US-backed research developing tool for bitcoin analysis

A forensics tool for cryptocurrency? Why not, according to the U.S. government.

Despite studies saying bitcoin has already matured, there’s no denying that the popular digital currency has caught the eye of criminals who want to use cryptocurrency for their nefarious transactions, thus making it harder for law enforcement to keep track of users.

In Europe, the European Union recently proposed to create a central database that would have records of bitcoin and virtual currency users’ identities and wallet addresses, which would be accessible to financial intelligence units of member countries.

Across the pond, the U.S. government is turning to technology to overcome bitcoin-related challenges.