Canadian Police Launch Cryptocurrency Investigations Center – Regulation Bitcoin News

The police service of the Canadian metropolis of Calgary is launching a Cryptocurrency Investigations Centre in partnership with blockchain analytics agency Chainalysis to assist fight crypto crime. The middle “will enable law enforcement to tackle crime that takes place using blockchain technology,” Chainalysis described.

Canada’s Cryptocurrency Investigations Centre

The police service of Calgary, the most important metropolis within the western Canadian province of Alberta and the most important metro space throughout the three Prairie Provinces area, introduced final week that it’s making a “Cryptocurrency Investigations Centre.” The announcement explains:

The Calgary Police Service is coming into into a singular partnership with Chainalysis, a world blockchain knowledge platform, to assist fight crypto-crime.

“The creation and implementation of the Western Canada Cryptocurrency Investigations Centre will strengthen our ability to ensure the public safety of citizens, allow for proactive policing, enhance technical investigative skills and provide expert training resources for law enforcement,” the police famous.

In line with the announcement, Calgarians reported losses totaling $13.9 million because of cryptocurrency-related crimes to the police final yr, and an extra $3.2 million has been reported to date this yr.

“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 quickly advancing technology,” the police harassed.

Moreover, the announcement particulars:

Collectively, with Chainalysis, the Calgary Police Service Cyber Forensics Unit has created the CPS Blockchain Investigation Staff (BIT), devoted to assist cryptocurrency and blockchain-related investigations.

Chainalysis described the brand new heart as “an innovative regional center that will enable law enforcement to tackle crime that takes place using blockchain technology.”

The blockchain agency’s analysis signifies that there was a major surge within the utilization and adoption of cryptocurrencies and digital property in Canada since 2019. In 2022, Canada ranked twenty second on the agency’s International Crypto Adoption Index, which is an enchancment from twenty sixth in 2021 and twenty fourth in 2020.

What do you concentrate on this crypto heart arrange by the Canadian police service and Chainalysis? Tell us within the feedback part under.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

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