The Ministry of Home Affairs (MHA) has recognized the need for a Cryptocurrency Intelligence and Analysis Tool (CIAT) to monitor and regulate the use of crypto-currencies, which are prone to illegal activities on the internet.
The Indian Cyber Crime Coordination Centre, a wing of the MHA that handles cyber-crime related training, research, forensics and investigation, is working on developing this tool.
Sources revealed to Tribune India that there is no domestic tool available to track and record the addresses involved in illicit activities on the dark-net.
CIAT will also be able to alert the authorities when certain accounts perform transactions or show unusual or high-volume activities.
Moreover, CIAT will create a database of all known crypto exchanges across the globe, along with their contact details, which will help the authorities to communicate with them during investigations.