Law enforcement agencies in the emirate of Dubai will use artificial intelligence and blockchain to track illegal transactions with cryptocurrencies.
Dubai Police Brigade Commander Saleh Al Hamrani said at the World Police Summit that the emirate’s law enforcement agencies are studying the latest digital technologies to combat the illegal use of cryptocurrencies.
“Digital assets are often used to launder money and commit all sorts of violations, so the Dubai police are trying to track suspicious cryptocurrency transactions. The latest technology is changing the world, and the police will inevitably become part of this change,” said al-Hamrani.
He added that the Dubai police are ready to use the blockchain, and not only against cybercrime. The potential of this technology can be used to prevent accidents, reduce mortality, ensure the safety of road and sea transport, security at airports, as well as to forecast the development of certain events. The use of artificial intelligence and blockchain will assess the risks police may face, allowing officers to be better prepared for emergencies and respond faster, al-Hamrani said.
Recall that in early March, Dubai authorities approved a law on virtual assets in connection with an increase in demand for cryptocurrencies. The law implies the creation of a separate body – the Dubai Virtual Assets Regulatory Authority (VARA). The agency will control the issuance and circulation of digital assets, as well as issue licenses to cryptocurrency companies.
Source: Bits
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