IRS uses the software to track bitcoins since 2015

in news •  last year

According to a new report, the Internal Revenue Service (IRS) uses the tools to track the bitcoins of transactions developed by the Chainalysis start-up.


According to the documents published by The Daily Beast, the tax agency uses the startup software, starting in 2015.


Also, the data of the General Services Administration (GSA), which deals with the logistics of the US government, shows that the IRS has a valid contract with Chainalysis, which operates until the beginning of September. To date, the IRS has paid Chainalysis more than $ 88 thousand.


The IRS claims that it uses software to "track the flow of money through the bitcoin economy", also explaining:


"This is necessary to identify and obtain evidence about individuals using bitcoin for money laundering or concealing income - in cases of tax fraud or other federal crimes."


It's no secret that US officials are interested in more careful monitoring of activities related to crypto-currencies, which was insisted by a group of influential senators at the end of May. The IRS contract is noteworthy given the investigation and litigation initiated by the tax agency against the exchange startup Coinbase and its customers as potential taxpayers.


As previously reported, the IRS wants to receive data on Coinbase customers in a few years.


The startup protested the actions of the IRS in the federal court, ultimately forcing the tax agency to "narrow down" the range of information requested. Recently, organizations such as the Competitive Enterprise Institute and the Coin Center have moved into opposition to the efforts of the IRS by making appropriate statements.


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