Share this article
IRS Seeks Elliptic’s Crypto Tracing Software in Response to COVID-19
President Donald J. Trump invoked the Stafford act in March, authorizing federal agency funding.
By Danny Nelson
Updated Sep 14, 2021, 9:32 a.m. Published Jul 17, 2020, 4:07 p.m.
The U.S. Internal Revenue Service (IRS) is trying to license Elliptic's cryptocurrency tracing software as an emergency response to COVID-19.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- On July 15, the tax agency said it had negotiated a "COVID-19" crypto tracing deal solely with the British analytics firm under federal disaster relief law known as the Stafford Act, public records obtained by CoinDesk show.
- President Donald J. Trump's March declaration of a coronavirus emergency authorizes federal agencies to spend vast sums in response to the virus. That, apparently, is what is happening here.
- CI Cyber Crimes wants to use the software for "tracing and analysis of various types of cryptocurrency transactions and the entities involved in transacting them," the notice read, saying also that investigators asked for Elliptic by name.
- The IRS did not immediately respond to CoinDesk's queries as to why it needs crypto-tracing software to respond to COVID-19. However, the IRS has previously warned the public about COVID-19 fraud.
- While the deal has already been negotiated, the full terms and dollar value are not yet publicly known. Additionally, competing firms have until July 22 to petition the IRS for consideration.
More For You
需要了解的:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
需要了解的:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
