The Royal Canadian Mounted Police (RCMP) is looking for a digital asset resolution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). In accordance with an announcement, a young was opened for purposes on Aug. 10 for an answer to retailer seized digital belongings:

“The event of a centralized repository resolution would permit cops to grab these belongings in a consumer pleasant method, whereas additionally providing important safety to forestall the theft of stated belongings throughout their storage.”

The RCMP calls for 17 necessities from the longer term repository. Amongst them is the power to course of transactions for the highest 20 cryptocurrency blockchains by market capitalization and the scalability to assist new blockchains sooner or later. The RCMP additionally intends to grant entry to its information to customers who want it. As for NFTs, the RCMP has deemed it essential to allow the holding of Ethereum, Solana and Polygon-based NFTs. 

Canada’s digital asset repository tender. Supply: ised-isde.canada.ca

Different options to be included within the repository are safety issues, such because the safety of personal keys, safe disposal course of and every day automated verification. A local cell software may even be developed on Android.

Associated: Canadians have ‘weak incentives’ to make use of a CBDC: Financial institution of Canada

Lately, Canadian regulation enforcement began utilizing specialised software program from Chainalysis to hint crypto whereas investigating cybercrimes. Native police now have the power to hint blockchain transactions, establish suspects and decide the place funds have been deposited.

In the meantime, the variety of Canadians holding Bitcoin (BTC) has fallen from 13.1% in 2021 to 10.1% in 2022.

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