IRS bets $1M Monero transactions are traceable

The Internal Revenue Service is splashing out $1 million as it attempts to find a way to trace transactions made using the privacy coin Monero.

Monero is one of the hardest privacy coins to trace (Photo: Monero)

Crypto intelligence firm Chainalysis and the data analytics company Integra FEC will each receive an upfront payment of $500,000 so they can begin developing their proposed tool.

If their technology subsequently passes rigorous testing and is approved for wider use, the…

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