2 years ago
In a crypto-themed AMA league connected Reddit connected May 15, the U.S. Secret Service answered a wide scope of questions and revealed their little-known NFT collection.
The United States Secret Service owns crypto, has its ain NFT collection, and has praised blockchain technology's quality to combat fiscal crime, Reddit users learned during a caller ask-me-anything (AMA).
On May 15, representatives from the United States Secret Service San Francisco Field Office and the Bay Area Regional Enforcement Allied Computer Team (REACT) opened themselves to questioning from members of the subreddit, r/cryptocurrency.
While immoderate regulators inactive spot crypto arsenic a instrumentality for fraudsters and scammers, the REACT task unit applauded the nationalist and transparent quality of blockchains arsenic an “amazing opportunity” for transgression fighters to way the travel of money.
The "ask maine anything" Reddit thread from the Secret Service. Source: Reddit. The Secret Service has previously made the point that the immutable quality of the blockchain ledger means that illicit fiscal enactment tin beryllium much easy monitored and tracked than fiat successful immoderate cases.
An upcoming Netflix-featured Bitfinex story involving immoderate improbable criminals made this constituent precise clear: it’s rather hard to launder wealth utilizing blockchain.
Answering a follow-up question astir however champion to fell shady behaviour connected the blockchain, the Secret Service said that if radical privation to bash dodgy things financially, it’s champion to take the wealth successful cash than crypto.
Secret Service provides grounds to Reddit to verify their individuality up of the AMA. Source: RedditAnother redditor asked whether oregon not the Secret Service itself held cryptocurrency to which the authorization said they were “definitely holders of crypto” and described themselves arsenic crypto “enthusiasts” successful aboriginal responses . The bureau said that by owning crypto, it helps them amended recognize the deeper mechanisms of the crypto world.
“Pretty overmuch astir cases necessitate a definite level of ELI5’ing. It’s somewhat of a moving gag astir here,” the bureau explained, with the acronym “ELI5” referencing the fashionable subreddit r/explainlikeimfive.
Related: Crypto is not criminal: US Secret Service launches ‘crypto consciousness hub’
When asked if they spot immoderate important differences betwixt crypto crimes and illicit enactment successful the satellite of accepted finance, the Secret Service noted that the “vast majority” of calls and reports received by their bureau usually involves crypto successful immoderate fashion.
"They alteration successful a batch of ways to fiat investigations, some successful bully ways and atrocious ways, but astir notable is that crypto transactions are irreversible and immutable."While the agencies responded to a wide scope of superior questions, determination was besides immoderate amusive to beryllium had during the session. When 1 redditor asked whether the Secret Service would see launching its ain “memecoin”, the bureau responded by plugging its ain NFT collection connected OpenSea.
The U.S. Secret Service San Francisco Field Office NFT Collection. Source: OpenSea.Magazine: Cryptocurrency trading addiction — What to look retired for and however it is treated
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