In Japan: System for Digital Transactions Tracking
The software for monitoring crypto-transactions in Japan, valued at $ 315,000, will be introduced in 2019.
The National Police Agency of Japan reported on the introduction of an innovative system for tracking transactions of digital assets on the territory of the state. This decision is a response to the increasing number of cases of using crypto currency in illegal operations in Japan.
Software integration should occur in 2019. In order to cover costs of the monitoring system, NPA is trying to raise its budget by 35 million yen (about 315 thousand dollars) in 2019.
The control system was created by a not mentioned in the press release private company. The software can collect information about transactions that is required to conduct an investigation, create a graphic picture of the data from the available records and identify which trading crypto sites have provided their services for the audited operations.
In early August, information appeared that Japanese authorities had strengthened measures to regulate crypto market in order to prevent speculative investments. FSA announced that their key task is to create a safe environment for investors.