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, Financial Services Agency. 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 NHK previously said it wants 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”.