US Secret Service Launches Crypto Awareness Hub
Using Crypto is Not Criminal: US Secret Service
In an announcement released last Friday, the US Secret Service stated that the new initiative seeks to provide the public with up-to-date information on the fight against crypto crime and the various risk mitigation strategies.
The announcement further emphasized that the US does not intend to criminalize cryptocurrencies, as it sees them as a popular and useful form of payment.
“Investments and transactions using cryptocurrencies and digital assets are not inherently criminal, however, do provide new opportunities for those seeking to commit fraud or otherwise conceal further illegal activities,” the Secret Service explained.
Fighting Against Cybercrime
The agency also pointed to the increased usage of crypto in cybercrime such as ransomware and money laundering activities in recent times. Cybercriminals have additionally developed substantial tricks including various digital money laundering services, such as over-the-counter brokers or exchange services and other unlicensed money services to launder illicitly obtained funds, according to them.
Addressing such risks, the Secret Service in close partnership with the US Department of the Treasury will further investigate and directly address the financial motive of cybercrime through asset seizures and other actions.
