Regulations Roundup: U.S. Govt. Pays $5.7 Million for Blockchain Analysis, Amit

[rhubygold23]

In recent regulatory news, a report published by Diar has found that U.S. government agencies have paid approximately $5.7 million USD to blockchain analysis contractors, India’s Enforcement Directorate has seized $5.9 Million worth of assets linked to the case of Amit Bhardwaj, and the Bank of International Settlements finds cryptocurrencies to “not, at this point, pose a global financial stability risk.”

U.S. Government Agencies Have Spent $5.7 Million on Blockchain Analysis Contracts

A report published by Diar has asserted that public records show U.S. government agencies have entered into $5.7 million worth of contracts with blockchain analysis companies.

The report finds that the Internal Revenue Service (IRS) accounts for the largest percentage of spending on blockchain analysis – having spent $2,191,835 on 9 separate contracts, or 38% of the total. Surprisingly, the second highest spender is the U.S. Immigration and Customs Enforcement (ICE) – spending $1,537,945 on 9 contracts (27%). The Federal Bureau of Investigation (FBI) is the third largest spender – with $1,142,671 spent on 12 contracts (20%).

The remaining 15% comprised sums between roughly $117,000 and $330,000 that were spent by the Fiscal Service, Drug Enforcement Administration, Securities and Exchange Commission, and Commodity Futures Trading Commission respectively.

Diar also notes that “Since the beginning of the year, the amount that the government agencies paid to blockchain analysis companies more than tripled.”

WHAT DO YOU THINK?

THIS IS THE SOURCE: https://news.bitcoin.com/u-s-govt-pays-5-7-million-blockchain-analysis-amit-bhardwajs-assets-seized/

[husnanparebok]

Did you mention the purpose of the American government why they spend so much money? Is it for investment or investigation? Its will be better explain in detailed explanation. so the forum member not confused and keep posting and asking for your answer!