The Japanese National Police Agency is reportedly installing a system to track the flow of crypto transactions in order to aid investigations of cryptocurrency-related cybercrime. The system is expected to be limited to major cryptocurrencies, according to local media.

Tracking Crypto Transactions

Japan’s National Police Agency (NPA) announced on August 30 that it “has mapped out a policy to introduce software next fiscal year to visualize the transaction history of virtual currencies in the face of increasing money laundering, massive theft and other cases related to cryptocurrencies,” the Yomiuri Shimbun reported.

“Traditionally, many criminal offenses concerning virtual currencies involve transactions via multiple accounts,” Fisco news outlet conveyed, adding that the police “had to trace [an] enormous [amount of] records during investigations.” Elaborating on the new crypto tracking system, the publication described:

'The service target is limited to major currencies such as bitcoin (BTC) and ethereum (ETH), and it is expected to be available for use by the National Police Agency, the Tokyo Metropolitan Police Department and the Osaka Prefectural Police Department next fiscal year.'

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