CON-21-141 Cryptoasset Blockchain Analysis Platform

Description

On 10th January 2020 the FCA became the anti-money laundering and counter terrorist financing (AML/CTF) supervisor for firms carrying out certain in scope cryptoasset activity in the UK. The FCA is required under The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) to approve and register firms conducting in scope cryptoasset activities and ensure that these firms are effectively monitored to secure compliance with these regulations. As the supervisor of in scope cryptoasset activity in the UK, the FCA requires access to specialist services to support the analysis of cryptoasset blockchain data. The FCA is seeking the services of a third-party firm specializing in this area who can provide access to a platform that can support the robust and efficient analysis of cryptoasset blockchain data and provide training and ongoing support in the use of this platform. Lot 1: On 10th January 2020 the FCA became the anti-money laundering and counter terrorist financing (AML/CTF) supervisor for firms carrying out certain in scope cryptoasset activity in the UK. The FCA is required under The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) to approve and register firms conducting in scope cryptoasset activities and ensure that these firms are effectively monitored to secure compliance with these regulations. Under these regulations in scope cryptoasset firms are required to establish and maintain policies, controls and procedures to mitigate and manage effectively the risks of money laundering and terrorist financing. The FCA is required to secure that any application for registration meets the relevant requirements of the MLRs and effectively monitor firms for which it is the supervisory authority. The FCA must take necessary measures for the purpose of securing compliance by firms with the requirements of the regulations. Relevant persons who contravene the requirements of the MLRs may be guilty of an offence under regulation 86 and liable to summary conviction or indictment. A cryptoasset is a cryptographically secured digital representation of value or contractual rights that uses a form of distributed ledger technology and can be transferred, stored or traded electronically. One application of this distributed ledger technology is seen in the use of public blockchains which underpin popular cryptoassets such as bitcoin. For the purpose of this document the term cryptoasset blockchain data will refer to data that is recorded on the public distributed ledgers of cryptoassets. As the supervisor of in scope cryptoasset activity in the UK, the FCA requires access to specialist services to support the analysis of cryptoasset blockchain data. The FCA is seeking the services of a third-party firm specializing in this area who can provide access to a platform that can support the robust and efficient analysis of cryptoasset blockchain data and provide training and ongoing support in the use of this platform. The analysis of cryptoasset blockchain data is an essential aspect of the FCA toolkit when approaching its duties as supervisor of firms carrying out certain cryptoasset activity in the UK. The development of this capability is closely aligned with operational objectives of the FCA and has applications in the prevention of harm to consumers, in enhancing the integrity of the UK financial system and in promoting competition. The FCA seeks a blockchain analysis solution which enhances our capability to: - Perform analysis of cryptoasset blockchain data associated with in scope cryptoasset activity. - Identify and respond to risks identified through the analysis of cryptoasset blockchain data. - Use cryptoasset blockchain data to support the effective supervision of in scope cryptoasset activity, to support the development of intelligence and enforcement investigations as required. The scope of this procurement exercise is to secure a platform that provides: - The capability to visualize, review and export cryptoasset blockchain data to support FCA functions. - Applies robust analytical techniques to support the efficient review of cryptoasset blockchain data including clustering and the aggregation of blockchain data. - Provides data on attribution of cryptoasset addresses across a wide range of cryptoassets and blockchains. - Supports users of the platform with training and specialist support on an ongoing basis. Additional information: To respond to this opportunity please click here: https://fca.delta-esourcing.com/respond/35HK868YD8 This contract may be subject to extensions up to a further 24 months