Post
Topic
Board Legal
Re: US Government Agencies Up Blockchain Analysis Contracts
by
audaciousbeing
on 08/10/2018, 17:00:14 UTC
https://twitter.com/lawmaster/status/1044273666236837893

https://diar.co/volume-2-issue-38/

Scroll down to the second article. Some interesting reading about the stats of US government spending on blockchain analysis.

Unsurprisingly the IRS is number one. The second is US customs and immigration. I wonder what the angle is there.

Here's the countdown in full in USD expenditure.

IRS   2,191,835   
ICE   1,537,945   
FBI   1,142,671   
Fiscal Service   330,552   
DEA   215,333   
SEC   184,480   
CFTC 117,372

The angle of the IRS is very straight forward and they should be commended for it. If there is any revenue generating body that so active in its duties, ready for the future and whose both rich and poor does not want to have any conflict with, its the IRS. They understand this and realize fast individuals and corporate bodies are using bitcoin and to evade tax couple with the challenge they have to face in getting warrants just to get information released to them to perform their duties, the best way is to study the subject matter itself. The good news is that it point to the direction that there is a future to the blockchain without which it would be wasting of tax payer money to research a short life-span project. The bad news however, is when they finish the research and are coming out with a robust policy, it will become almost impossible to hide.

The angle of the customs and immigration is what I am yet to phantom but it would not be unconnected to ensuring a more efficient discharge of their duties and the ability to track goods in real time and also eliminate the issue of smuggling to a large extent.