Canada Developing Repository To Store Crypto, NFT
For the purpose of facilitating the seizure and storage of cryptocurrencies and NFTs, the RCMP is looking for a digital asset solution. A tender was opened for applications on Aug. 10 for a centralized repository that would enable user-friendly seizing and security measures to prevent theft during storage.
The RCMP requires 17 requirements for a future repository, including processing transactions for top 20 cryptocurrency blockchains by market capitalization and scalability for future blockchains. Users will have access to data, and the repository will enable the holding of Ethereum, Solana, and Polygon-based NFTs. Security considerations include private key protection, secure disposal processes, and daily automated verification. A native Android mobile application will also be developed.
(With inputs from Shikha Singh)
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