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IRS Wants to Track ‘Nefarious’ Privacy Coin and Lightning Transactions

Published 07/02/2020, 10:01 PM
Updated 07/02/2020, 11:40 PM
IRS Wants to Track ‘Nefarious’ Privacy Coin and Lightning Transactions

The United States’ Internal Revenue Service (IRS) is seeking information and tools to help it trace transactions using privacy coins, layer two protocols such as Lightning Network and side chains like Plasma and OmiseGo (OMG).

A June 30 request for information published by the U.S. Department Of The Treasury reveals the IRS’ Criminal Investigation Division is seeking submissions for “an interactive prototype” with a graphic user interface for analyzing distributed ledger-based transactions involving privacy coins and other privacy-enhancing blockchain technologies.

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