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As digital foreign money crimes escalate, the Royal Canadian Mounted Police (RCMP) and Shared Companies Canada (SSC) have set their sights on a strong answer. They initiated a take a look at for a centralized digital asset repository, aiming to safeguard seized cryptocurrencies and NFTs primarily based on Ehereum, Polygon and Solana:
“The RCMP requires the flexibility to soundly and securely retailer digital property which have been seized and retained, till their eventual disposition on the conclusion of any authorized proceedings.”
The problem, introduced on August 10, permits tech innovators to collaborate on a plan for a centralized repository. Removed from a mere storage facility, this vault is envisaged to have the aptitude to course of transactions throughout prime cryptocurrency blockchains whereas guaranteeing high-level safety measures to protect towards potential breaches.
Digital currencies, identified for his or her decentralized nature and relative pseudonymity, have sadly been utilized by cybercriminals. The rise in ransomware assaults, coupled with on-line scams, highlights the urgent want for such an initiative:
“The event of a centralized repository answer would enable law enforcement officials to grab these property in a person pleasant method, whereas additionally providing vital safety to forestall the theft of mentioned property throughout their storage.”
The RCMP’s repository wishlist is intensive and consists of initiatives equivalent to emphasizing the flexibility to course of property from the highest 20 cryptocurrency blockchains which can be decided with CoinGecko, the scalability to include new digital platforms, an Android-native software and the flexibility to export the asset experiences to PDF.
Among the many 17 completely different goals for this digital asset repository, the safe disposal of digital property and each day checks to make sure that all seized property are accounted for is paramount for this mission:
“With the rise of recent and progressive strategies to retailer and switch property, Canadian Regulation enforcement wants a secure and safe methodology to establish and seize mentioned property. As cryptocurrency continues to realize recognition as a transaction methodology and retailer of worth within the common inhabitants, it continues for use as a fee methodology for legal actions.”
Builders have till September 21, 2023, to suggest an answer to the RCMP and SSC as a way to obtain a contract to work on this repository.
