American tax service IRS wants to hack the “unhackable”. IRS has publicated contract to “Cryptocurrency Tracing”.
Monero (XMR), Zcash (ZEC), Dash (DASH), Grin (GRIN), Komodo (KMD), Verge (XVG), and Horizon (ZEN) are interesting to them. Also IRS wants to know more about the off-chain protocol networks (Lightning Network, Raiden Network, Celer Network), the side-chains (Plasma and OmiseGo) and coins support Schnorr Signature algorithm (Bitcoin Cash).
Acquiring applications to allow an investigation to more easily trace privacy coins and other protocols that provide anonymity to illicit actors would allow investigations to be more effective, as well as facilitate a higher level of deterrence by making it harder to conceal criminal activity. It also provides an investigative efficiency that is currently limited.
Firstly not all things in this world is possible to hack especially it is about things that are impossible to hack =). And secondly for some reason they don’t see the third cryptocurrency in the world which is used for the half of all crime payments. I mean Tether, its payment turnover is greater or equal than bitcoin sometimes.
But Tether is not in a safe haven too after the Jay Clayton appointing (former SEC chairman) to attorney for the Southern District of New York.
Just the other day chinese billionaire Zhao Dong was detained by police in China. Zhao Dong is bitcoin over-the-counter (OTC) trader and one of the biggest investors in Tether and Binance.
Who’d have thought but the most popular cryptocurrency between the large rogues is not bitcoin or monero. The criminality use USDT in 90% of cases.
Dong has already started testifying and against the owner of Binance Changpeng Zhao (well-known as CZ) in particular. It is not a secret CZ has continued sale cryptocurrency to chineses in spite Beijing ban.
This can’t help but affect to Binance to my mind.