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Coinbase signs deal to provide users’ tracking data to U.S. Immigration

The contract discloses that the immigration regulator will now able to track transactions made through different crypto currency networks.

• June 30, 2022
Coinbase and United States Immigrations and Customs Enforcement agency (ICE)
Coinbase and United States Immigrations and Customs Enforcement agency (ICE)

Cryptocurrency exchange platform Coinbase, through its analytics program Coinbase Tracer, is set to provide the United States Immigrations and Customs Enforcement agency (ICE) with data about crypto users, including “historical geo-tracking data” and transaction history, 

Homeland Security Investigations, the division responsible for the purchase, handles not only immigration-related matters, such as aiding migrant raids and deportation operations, but broader crimes including various forms of financial offences.

This is contained in a contract obtained by Tech Enquiry and reported by Intercept. The deal was signed in September 2021 for $1.37 million.

The contract discloses that the immigration regulator will now able to track transactions made through different crypto currency networks such as Bitcoin, Ether, and Tether. 

The program’s features include “Multi-hop link Analysis for incoming and outgoing funds, transaction demixing and shielded transaction analysis.” and “historical geo tracking data.”

Coinbase Tracer allows clients, in both government and the private sector, to trace huge volumes of transactions through the block chain. Coinbase Tracer is known for its ability to “investigate illicit activities including money laundering and terrorist financing” and “connect [cryptocurrency] addresses to real world entities.”

This contract is the latest in the series of contracts between Coinbase and U.S. government agencies. In August 2021, Coinbase signed a smaller contract with ICE worth $29,000 to provide the agency with licenses for its analytics software. In May 2020 and April 2021, Coinbase sold licenses from Coinbase Tracer to the U.S. Secret Service.

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