The Spanish police officially announced that it would be utilising funds to deploy blockchain-based crypto-surveillance technologies to tackle the rising drug trafficking in the Strait of Gibraltar. They claim that crypto is being rampantly used to fund drug trades in these waters that connect Spain with Morocco and Gibraltar.
The Spanish force has spent $115,000 on acquiring two blockchain analysis tools to help them identify suspicious transactions. Police officers have said that the increasing use of crypto in funding these illicit activities is making it difficult for them to trace payment routes. This is because cryptocurrencies allow criminals to remain anonymous while transacting.
U.S. and Dubai also investing.
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/ Hugo Talks