IRS to Pay $625K to Crack Monero, Crypto Proponents Scoff at Contract

The U.S. Internal Revenue Service (IRS) wants to pay a contractor $625,000 if they can crack layer-two privacy schemes and the privacy-centric crypto asset monero (XMR). The United States tax agency wants to obtain a solution to trace the digital currency monero (XMR), alongside “Layer 2 network protocol transactions” like the Lightning Network.

“Currently, there are limited investigative resources for tracing transactions involving privacy cryptocurrency coins such as monero, Layer 2 network protocol transactions such as Lightning Labs, or other off-chain transactions that provide privacy to illicit actors,” the IRS contract offer notes. What do you think about the IRS wanting to crack monero and layer-two privacy-centric transactions?.

Timeline of Monero