The Royal Canadian Mounted Police and Shared Companies Canada have introduced a problem to develop a “digital asset answer to facilitate the seizure and storage of cryptocurrency and non-fungible tokens” from public blockchains.
The RCMP stated Thursday it needs to have the ability to retailer seized digital belongings till the related authorized circumstances are wrapped, noting that it’s involved in regards to the doable theft of digital belongings.
The problem has two phases. The primary contract would pay out 150,000 Canadian {dollars} ($111,532) — not together with taxes — with a most length of six months.
Part two comes with a a lot greater bounty, round 1 million Canadian {dollars}. The contract might final for as much as 12 months.
The problem closes September 21.
As a part of the disclosure, nevertheless, Canada famous that it’s not dedicated to paying out the full relying on a “foundation of things corresponding to analysis outcomes, departmental priorities and availability of funds.”
As a part of the contract, the RCMP and Shared Companies Canada need a answer that will be capable to course of transactions for the highest cryptocurrencies, but in addition be capable to “assist new blockchains sooner or later.”
As well as, the repository ought to be capable to let customers or officers enter seed phrases after which enable for a pockets restoration, with the potential of strolling the consumer by way of learn how to switch the pockets to a “system protected pockets.”
Ideally, it will additionally be capable to “current officers with clear directions on learn how to seize belongings by way of a step-by-step information within the software.”
Again in March, the RCMP posted a story targeted on how crypto crime was “rising rapidly” saying that, in 2021, the Canadian Anti-Fraud Heart acquired “stories of cryptocurrency fraud losses totalling [75 million Canadian dollars].”
Canada has been cracking down on crypto exchanges, with the Canadian Securities Directors giving crypto buying and selling platforms a brief window of time to register with the right regulators again in February.
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