The UK Tax Authority, HM Renue and Customs (HMRC) is looking to spend 100,000 pounds (approximately $ 130,500) in providing its cybercrime team with a tool that can be used to analyze various cryptocurrencies and thus track criminals, dark activities, tax evasion And a variety of purposes.
HMRC is seeking the “provision of a tool that will support intelligence-gathering methods to identify and cluster crypto-asset transactions into linked transactions and identify those linked to crypto-asset service providers.”
In short, the bottom line of all this spending and analysis is tackling tax evasion.
“The nature of tax compliance is changing and HMRC is continuing to develop its capacity and expertise in order to respond to the emerging threats to the tax system, including via cryptoassets," an HMRC spokesperson told Decrypt.
Most likely the focus will be on tracking currencies related to Gambling services, the dark web and Mixing services, specifically on privacy-oriented currencies like Monero, zcash, ...etc.
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https://decrypt.co/17184/hmrc-explains-why-it-wants-to-track-your-bitcoin?utm_source=reddit&utm_medium=social&utm_campaign=sm