Japan 's National Police Agency ( NPA ) will reportedly introduce software in 2019 that will follow the transaction history of cryptocurrencies , citing an increase in illicit use . The NPA intends to increase its budget by JPY35 m ( $ 315,000 ) to cover the costs of the software , according to Japanese broadcaster , NHK . The software will be developed by an undisclosed private company . It will collect transaction data and helps investigators determine what the currency is being used for by crypto exchange operators . Japan 's Financial Services Agency previously said it expects the cryptocurrency industry to " grow under appropriate regulation ” .
Japan's National Police Agency (NPA) will reportedly introduce software in 2019 that will follow the transaction history of cryptocurrencies, following an increase in illicit use. The NPA wants to increase its budget by JPY35m ($315,000) to cover the costs of the software, according to Japanese broadcaster, NHK. The software will be developed by an undisclosed private company. It will identify transaction data and help investigators identify what the currency is being used for by crypto exchange operators. Japan's Financial Services Agency previously said it wants the cryptocurrency industry to "grow under appropriate regulation”.