The Royal Canadian Mounted Police wants a digital asset repository

The public challenge includes two phases and features a bounty of $1 million CAD


Chandra Ramsurrun/Shutterstock modified by Blockworks


The Royal Canadian Mounted Police and Shared Services Canada have announced a challenge to develop a “digital asset solution to facilitate the seizure and storage of cryptocurrency and non-fungible tokens” from public blockchains.

The RCMP said Thursday it wants to be able to store seized digital assets until the relevant legal cases are wrapped, noting that it’s concerned about the possible theft of digital assets.

The challenge has two phases. The first contract would pay out 150,000 Canadian dollars ($111,532)  — not including taxes — with a maximum duration of six months.

Phase two comes with a much higher bounty, around 1 million Canadian dollars. The contract could last for up to 12 months. 

The challenge closes September 21.

As part of the disclosure, however, Canada noted that it’s not committed to paying out the total depending on a “basis of factors such as evaluation results, departmental priorities and availability of funds.”

As part of the contract, the RCMP and Shared Services Canada want a solution that would be able to process transactions for the top cryptocurrencies, but also be able to “support new blockchains in the future.”

In addition, the repository should be able to let users or officers input seed phrases and then allow for a wallet recovery, with the possibility of walking the user through how to transfer the wallet to a “system protected wallet.”

Ideally, it would also be able to “present officers with clear instructions on how to seize assets through a step-by-step guide in the application.”

Back in March, the RCMP posted a story focused on how crypto crime was “growing quickly” saying that, in 2021, the Canadian Anti-Fraud Center received “reports of cryptocurrency fraud losses totalling [75 million Canadian dollars].”

Canada has been cracking down on crypto exchanges, with the Canadian Securities Administrators giving crypto trading platforms a short window of time to register with the proper regulators back in February.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Individual cryptocurrencies may well jump in value during the next bull run, but the market overall has pumped less and less every time


After seeing record trading volumes Monday, IBIT trade volumes soar again as bitcoin price rally continues


Get over it. Of course Bitcoin will survive. The real question: Which miners will thrive?


Do Kwon may miss the start of the March 25 trial in the SEC’s case against the former executive and Terraform Labs


Riot Platforms bought 31,500 more mining machines while CleanSpark has begun operating in Mississippi


Dencun was activated on all testnets, a blog post Tuesday said