The UK HM Revenue & Customs (HMRC) has issued a request for blockchain analysis tools. The main goal is to find and implement a technology that allows the government to track and tax cryptocurrency users.
The problem is that cryptocurrency transactions are harder to track than electronic fake transactions. Therefore, the HMRC is looking for a tool that will identify crypto transactions and fight cryptocurrency tax evasion. It turned out that tracking bitcoin (BTC) transactions and linking wallet addresses to account holders is relatively easy. Difficulties arise with cryptocurrencies such as Monero (XMR), Zcash (ZEC) and Dash (DASH). Tracking of these coins is more difficult due to their privacy-oriented features.
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