Canadian Police Launch Cryptocurrency Investigation Center - Regulation Bitcoin News [Advance Cash ]

Canadian Police Launches Cryptocurrency Investigations Center

The Canadian City of Calgary Police Department is launching a Cryptocurrency Investigation Center in partnership with blockchain analytics firm Chainalysis to help tackle crypto crime. The center “will enable law enforcement to combat crimes committed using blockchain technology,” Chainalysis described.

Canadian Center for Cryptocurrency Investigations

The Calgary Police Service, the largest city in the western Canadian province of Alberta and the largest metropolitan area in the tri-province prairie region, announced last week the creation of a “Cryptocurrency Investigation Center”. The announcement explains:

The Calgary Police Department is entering into a unique partnership with Chainalysis, a global blockchain data platform, to help combat crypto-crime.

“The creation and implementation of the Western Canada Cryptocurrency Investigation Center will strengthen our ability to provide public safety to citizens, enable proactive policing, improve technical investigative skills, and provide resources specialized training for law enforcement,” police noted.

According to the announcement, Calgarians reported losses to police totaling $13.9 million due to cryptocurrency-related crimes last year, with an additional $3.2 million reported so far. present this year.

“Cybercrimes, particularly cryptocurrency scams, can be difficult for law enforcement to fully investigate due to a variety of complex factors, including various international locations and jurisdictions, sophisticated criminal techniques, and evolving technology. fast," police said.

Also, the announcement details:

In conjunction with Chainalysis, the Calgary Police Department's Cybercrime Unit has created the CPS Blockchain (BIT) Investigative Team, dedicated to supporting cryptocurrency and blockchain-related investigations.

Chainalysis described the new center as "an innovative regional hub that will enable law enforcement to tackle crime that takes place using blockchain technology."

Research from the blockchain company indicates that there has been a significant increase in the use and adoption of cryptocurrencies and digital assets in Canada since 2019. In 2022, Canada ranked 22nd on the company's global crypto adoption index, which is an improvement from 26th in 2021 and 24th in 2020.

What do you think of this crypto center set up by the Canadian police and Chainalysis? Let us know in the comments section below.

Canadian Police Launch Cryptocurrency Investigation Center Regulation Bitcoin News

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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