Privacy coins are getting more attention than ever from the U.S. government.
A new report from the U.S. Department of Justice alleges that crypto traders dealing with coins like Monero, Dash, and Zcash are inherently engaging in "High-risk activities."
According to the "Report of the Attorney General's Cyber Digital Task Force" released by the DOJ on Oct. 8, anonymity enhanced cryptocurrencies, or AECs, undermine and even facilitate existing anti-money laundering, or AML, and combating the financing of terrorism, or CFT, regulations put in place by businesses dealing in fiat.
The task force cited coins including Monero, Dash, and Zcash.
"The Department considers the use of AECs to be a high-risk activity that is indicative of possible criminal conduct," the report stated.
"AECs are often exchanged for other virtual assets like Bitcoin, which may indicate a cross-virtual-asset layering technique for users attempting to conceal criminal behavior."
DOJ says use of privacy coins is 'indicative of possible criminal conduct'
Udgivet den Oct 8, 2020
by Cointele | Udgivet den Coinage
Coinage
Seneste nyheder
Se alt
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.