The United Kingdom has offered a contract worth £100,000 ($130,000) for software that can identify when cryptocurrency is used to avoid paying taxes.
According to the contract posted by HM Revenue & Customs (HMRC), the organization is seeking a tool that will “support intelligence gathering methods” for identifying and clustering cryptoasset transactions and linking to their service providers.
The contract claims the tool must be capable of tracking bitcoin, bitcoin cash, XRP, USDT, ethereum and ethereum classic. Preferential treatment will be given to developers capable of creating a tool that can analyze private cryptocurrencies, such Monero.
The contract reads,
Crypto assets, such as Bitcoin and Ethereum, provide a means to transfer value between interacting parties. Also known as virtual and crypto currencies, these services are increasingly used for a range of purposes, from international money transfers, sales of digital services, paying staff and tax evasion and money laundering.
HMRC is one of the UK’s largest organizations, with 60,000 full-time equivalent staff working to collect taxes.
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