Coinbase to work with Homeland Security

Coinbase is teaming up with the Immigrations and Customers Enforcement (ICE) division of Homeland Security to provide blockchain analytics software.

The company has already worked with the US Secret Service and Inland Revenue and has experience collaborating with government institutions, even though it butts heads with some institutions on occasion, including US Securities and Exchange Commission.

The contract is worth $1.36m and denotes a continuing initiative by crypto companies to collaborate with US institution.

The Department of Justice has hired private companies to help it track down anonymous cryptocurrencies, such as Monero as a response to the growing rate of online fraud.

This contract may not seem like much by itself, but it's the largest federal contract the company has been able to sign to date. Previously, ICE paid Coinbase $29,000 for some basic forensics software.

According to Homeland Security, Coinbase is the only company that can reasonably provide the service that is required.

Coinbase has been working with governmental bodies and in 2020 it said it would be interested in helping the Inland Revenue Service and the Drug Enforcement Agency in a bid facilitate operations for the institutions.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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