The US Says Cryptocurrencies Poss a Great Threat

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The US Department of Justice said cryptocurrencies threaten state security. According to the report released by the ministry, cryptocurrencies may invite greater crimes in the future. For this reason, the Ministry of Justice has announced that in the coming days, it will take a much more aggressive attitude in controlling illegal activities with digital money.

The U.S. Department of Justice said in a report released Thursday that criminals who make use of cryptocurrencies in illegal activities are a major threat to the state. In the report, it was announced that terrorists and fraudsters who display a number of corrupt and criminal behavior with cryptocurrencies have harmed US national security.

The Ministry of Justice underlined that it will now be more careful about illegal activities related to crypto money. He announced that an aggressive investigation would be conducted into fraud, terrorism and various other crimes with digital assets and currencies. It was announced in the report that international cooperation will be underlined and that cooperation will be encouraged.

In the report released to the public by the US Department of Justice, it was stated that law enforcement officials were experiencing difficulties due to the lack of digital currencies that could undermine the reliability and stability of the international financial system and the lack of supranational rules to regulate them. Peer-to-peer (P2P) exchanges, kiosk operators and online casinos where cryptocurrencies are actively used It was alleged that it did not comply with the tracing, record keeping and reporting stages, which weakened the control mechanism.

Cryptocurrency Could Allow Larger Crimes In The Future

According to the news published in Bloomberg, Cyber-Digital Task Forces of Attorney General William Barr emphasized in the report that terrorism activities that are currently carried out with the support of crypto money may be a fragment of worse scenarios that may occur in the future.

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“Cryptocurrencies are also profiting bad actors and fraudulent nations.”

The report, published recently, came right after the public reflection of many developments regarding crypto money and illegal activities in the USA and the world. John McAfee, one of the leading advocates of cryptocurrencies, has been arrested for tax evasion. In addition, the founders of BitMEX, one of the largest cryptocurrency platforms in the world, were accused of violating money laundering and some banking laws. Arthur Hayes, then CEO of the company, went bankrupt; CTO Samuel Reed was found guilty, arrested, and then released on bail.


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