The US Army Wants to Track Cryptocurrency Transactions – Here’s Why

The U.S. Army Criminal Investigation Command (USACIDC) is looking for a web-based application that will allow it to trace cryptocurrency transactions.

According to public records, the U.S. Army is looking to enhance its cryptocurrency investigative capabilities. The Army says it needs the application to limit criminal activities where cryptocurrencies are involved.

“The U.S. Army Contracting – New Jersey (CC-NJ) located at Fort Dix, NJ is surveying the market for potential contractors capable of providing one license for one user of a cloud, web-based application capable of assisting law enforcement to identify and stop actors who are using cryptocurrencies for illicit activity such as fraud, extortion, and money laundering.”

The Army says it needs to track Bitcoin and other top cryptocurrencies that could be used for illicit activities.

“Application must enables [sic] users to conduct in-depth investigation into the source of cryptocurrency transactions and provides [sic] multi-currency analysis from Bitcoin to other top cryptocurrencies…

This is a requirement for an already developed web-based application that meets the requirements of the attached Statement of Work (SOW).”

Many government agencies are looking to enhance their cryptocurrency tracing capabilities. Recently, Coinbase was awarded a multiyear contract by the Secret Service.

The period for the Army contract will be a minimum of 1 year with up to 4 additional years based on the needs of the agency.

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