March 24, 2023

“Part of our responsibility to combat criminal activities against the state’s monetary institutions is to educate people about crypto assets and work with them to pinpoint, apprehend, and punish the perpetrators who commit crimes about crypto-assets.” This was stated by Jeremy Sheridan, the deputy director in the United States Secret Service investigation department.

The Secret Service department has created a website committed to disseminating cryptocurrency information and boosting the public’s awareness about the criminal usage of the technology.

The sensitization website contains the newest action by the agency against the illegal use of virtual currencies and advice on safeguarding them from cyberattacks.

Sensitization Platform For The Public

The manner in which law enforcement agencies talk about crypto and address crypto users is changing. The Secret Service of the United States has built a crypto educational portal, including an educational video.

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According to the press release, the instructional tool aims to counteract “fraudulent usage of crypto assets and offer awareness campaigns on the security of virtual assets and ways to guarantee it stays safe,” according to the press release.

According to Jeremy Sheridan, the hub centers on “probing fraudulent practices,” according to Jeremy Sheridan. Its goal is to “detect, capture, and punish people involved in virtual asset crimes.” However, it’s important to note that the terminology and context employed about Crypto are favorable.

“Digital currencies continue to be widely popular as means of payment,” according to the debut website, emphasizing the necessity for the security agency to remain vigilant and on the lookout.

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The Secret agency established the Finance-Related Cybercrime Response Team two years ago and has not launched a crypto education portal. The first wave of crypto-related activities only expressed worry about the potential for digital currencies being used to conduct criminal electronic payments.

Cryptocurrencies Are Not Unlawful

In what may be a great achievement for the crypto ecosystem, the sector’s image as a shelter for criminality and illegal activities may finally diminish. Deep Web fraudsters and drug addicts used to be the only ones who utilized cryptocurrencies.

On the other hand, the security agency concedes in 2022 that:

“Cryptocurrency and virtual asset holdings and exchanges are not necessarily unlawful.”

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In general, because of the ease with which distributed ledgers can be watched and traced, the usage of cryptocurrencies on an open blockchain gives little room for criminal financial activities. This argument was made very evident by the Bitfinex story with unusual fraudsters: it is complicated to siphon funds with blockchain.

In the end, if individuals would like to get compensated for doing awful things, cash is still the greatest option.

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