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The UK HM Revenue and Customs plans to introduce cryptocurrency forensic tools to strengthen tax compliance for digital assets
According to The Block, the UK's HM Revenue and Customs (HMRC) is exploring the procurement of blockchain forensic software and investigative support services to enhance its efforts against money laundering and tax fraud involving digital assets.
A market research announcement released this week indicates that HMRC plans to procure licensing and investigative support services, covering functionalities such as blockchain data queries, cross-chain transaction tracking, attribution analysis, risk scoring, and data visualization. The proposed total contract value is approximately £3.42 million (about $4.6 million), for a duration of three years, with the possibility of extension until March 2030. The contract includes 55 annual software licenses and 20 corresponding investigative support hours, along with investigator training.
Colby Mangels, former OECD advisor and Head of Global Government Solutions at Taxbit, stated that this move reflects the global government's emphasis on building compliance infrastructure for digital assets. Investigative work increasingly relies on cross-chain tracking, forensic analysis, and real-time blockchain data access, demonstrating the UK's commitment to setting an example in crypto compliance and regulatory transparency.
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