South Korea’s prosecution service will buy new blockchain analytics software – and wants to use it to catch people laundering crypto overseas.
Per the domestic media outlet Economist, the new tools will be used to apply the same level of scrutiny to overseas exchanges as is currently applied to domestic exchanges.
The project is the brainchild of the Supreme Prosecutor’s Office.
The office has opened a bidding process for the project.
It has named the project the “Advanced Cyber Investigation System” (literal translation).
The bidding process will be wrapped up this month, and the winning contractor will be given until November this year to deliver the new tools.
How Do South Korean Prosecutors Hope to Catch ‘Crypto Money Launderers?’
Police and the judiciary have been given sweeping powers to examine crypto transaction data at domestic exchanges.
Trading data…