Cryptocurrency exchange Coinbase seeking to license its blackchain analytics to the IRS and DEA to identify crypto users worldwide

Cryptocurrency exchange Coinbase is seeking to license its blockchain analytics software to two U.S. government agencies, the Drug Enforcement Administration and the Internal Revenue Service . Those agencies are considering purchasing a use license from Coinbase for a cloud-based software called Coinbase Analytics. According to the prospective DEA contract, Coinbase’s software will provide “identity attribution” for crypto addresses both domestically and internationally.

Public documents were issued on May 18 and April 7, in an industry publication The Block.  According to published reports, the Coinbase Analytics would be used for investigative purposes.

The contract says that Coinbase Analytics provides investigators with identity attribution and de-anonymities virtual currency addresses domestically and internationally.

The IRS contract says that the IRS criminal investigation cyber crimes unit “requires a software tool that can assist in the tracing of various types of cryptocurrency, not just Bitcoin” in support of its law enforcement investigative mission.