US Secret Service Asks Congress for Help to Prevent Illicit Use of Privacy Coins
The US Secret Service is nervous with regard to the illicit use of cryptocurrencies. A high-ranking official of the corporate has urged Congress to consider additional legal guidelines to cope with anonymity-enhanced cryptocurrencies and corporations supposed to obscure transactions on blockchains corresponding to tumblers or mixers.
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Undermining US Authorized tips
Deputy Assistant Director of the US Secret Service’s Office of Investigations, Robert Novy, gave a sworn assertion sooner than the Dwelling of Representatives Financial Corporations Subcommittee on Terrorism and Illicit Finance on June 20.
Novy outlined that his firm is primarily concerned with the use of cryptocurrencies “in felony schemes that undermine the integrity of financial and price packages, their use in circumstances of fraud, and their frequent use as a way of money laundering,” stating:
Whereas some digital currencies have operated lawfully, others…