US Secret Service About To Launch A Crypto Information Center
It seems law enforcers now have a new way of discussing digital currencies and how they treat crypto players based on the latest information issued today by the US secret service.
Announcing The Launch Of The New Hub
Today, the agency announced that it would be launching a crypto knowledge center via a video. It said the center would aim to fight against the illegal use of these virtual assets and enlighten the public about the benefits of these digital assets, especially their relevance to security. A spokesperson for the agency, Jeremy Sheridan, revealed to the media that part of the duties of the hub would be the investigation of financial crimes.
Sheridan said the center “would act as information for the identification of crypto-related frauds.” then, the agency or any appropriate agency can follow up on the information to arrest and prosecute those involved in the crime. Nevertheless, it is good news that authorities now see digital currencies in a new, positive light.
Part of a blog post on the agency’s website about the hub states that “digital currencies can no longer be ignored as they’ve become a vital part of our financial system and will continue to grow. Thus, it has become important that the secret service upgrade its knowledge about it.”
The secret service had previously launched the finance-related cybercrime task force whose responsibilities included tracking crypto-related transactions and identifying fraudulent ones. Now, it seems that the agency’s new crypto information center would be separated from the task force from henceforth.
A Massive Boost For The Crypto Community
This news would be a massive boost for the crypto ecosystem as the era of authorities labeling cryptocurrencies as only useful for crime-related and other illegal stuff is finally over. Most leaders had the preconceived notion that criminals only use digital currencies to further their criminal operations.
Another part of the blog post announcing the launch of the new crypto information center also stated that “not all crypto-related transactions or investments have criminal intentions or purposes.” Generally, it makes no sense for any criminal to use blockchain technology for illegal purposes, knowing fully well that all transactions on the blockchain are transparent. Thus, anyone can monitor and track such transactions.
An excellent example that proves this theory to be true is the Bitfinex hacking scandal, where the DoJ recently recovered the hacked coins. It is clear that if criminals don’t want their financial transactions to be traced, their best option is to use cash only for their financial transactions.
Crypto Market On A Rally
After three months of successive declines, which included a worse-than-forecasted inflation report from last week, the crypto market is back on a rally. Despite the Fed’s announcement of an imminent increase in interest rate, the inflation rate still rose to a 40-year peak.
Some economic analysts still claimed that the inflation rate might rise further this year. However, Fed Chair, Jerry Powell, promised that the fed would make some decisions to prevent such.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
