US Attorney General: Crypto Can Fundamentally Change Human Interact
Main page News, US, Crypto Market, Hacker Attack, Regulations, Cryptocurrency
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Oct. 8, 2020

The US Attorney General’s Cyber-Digital Task Force has revealed a report entitled "Cryptocurrency: An Enforcement Framework."

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According to the US Department of Justice (DoJ), the framework includes overview of the emerging threats and enforcement challenges associated with the use of cryptocurrency. Attorney General, William Barr, says cryptocurrency is a "technology that could fundamentally transform how human beings interact, and how we organize society."

"Ensuring that use of this technology is safe, and does not imperil our public safety or our national security, is vitally important to America and its allies," Barr added.

The framework also demonstrates the FBI's view on the expansion of the crypto market around the world. FBI Director, Christopher Wray, highlighted that the domestic intelligence sees criminals using cryptocurrency to hide illicit money, as well as to trade in goods like criminal tools on the dark web.

"For example, the cyber criminals behind ransomware attacks often use cryptocurrency to try to hide their true identities when acquiring malware and infrastructure, and receiving ransom payments," Wray pointed out.

As a whole, the framework describes the role of cryptocurrencies in the world of criminal activity.

In August this year, the DoJ said that North Korean hackers stole millions of dollars’ worth of cryptocurrency and laundered assets via Chinese over-the-counter (OTC) market.

FBI Director: Cryptocurrency is Already Significant Issue

The department believes the bad actors stole as of $250 million in cryptocurrency.

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