Last week United States Secret Service had announced about launching a cryptocurrency public awareness hub featuring a public service announcement video.

This new educational platform will feature the illicit use of digital assets and provide public awareness information on digital asset security. Also, it will explain how to remain secure.

Jeremy Sheridan, assistant director of the U.S. Secret Service Office of Investigations, explained that the hub focuses on investigating and preventing crimes against the nation's financial systems. It also includes informing the public about the workings of digital assets and partnering with them to identify, arrest, and prosecute those committing crimes involving digital assets. The language and tone used regarding cryptocurrency are both positive.

The launch website agrees that since digital and cryptocurrencies are gradually becoming popular hence the need for the Secret Service is required. As per the announcement, the new website will feature updating latest in the agency’s work. According to the website the integrated mission of the Secret Service is of protection and financial investigation to ensure the safety and security, key locations, and events of national significance.

After two years Finance-Related Cybercrime Task Force founded by Secret Service, a cryptocurrency awareness hub was launched. Initial cryptocurrency-related activities were mainly concerned with how cryptocurrencies could be used for making illegal online payments. In 1865, the Secret Service was created as a bureau within the Treasury Department to combat counterfeiting. It is now part of the Department of Homeland Security.

In the past, cryptocurrency was reserved for Silk Road criminals and drug users. For illicit financial activity, cryptocurrency on a transparent, backdating blockchain does not make sense because they are easily monitored and tracked.

The Secret Service works in close partnership with the U.S. Department of the Treasury to investigate and “directly address the financial motive of cybercrime through asset seizures and other actions,” the announcement adds, elaborating.

Indrani bose

CBW - External Analyst

INDIA