Breaking News

US Department of Justice says use of privacy currencies is ‚a sign of possible criminal conduct

Privacy currencies are receiving more attention than ever from the US government.

US Department of Justice says use of privacy currencies is ‚a sign of possible criminal conduct’LAST HOUR NEWS

The new US Department of Justice (DoJ) report released Thursday says crypto currency traders dealing in currencies such as Monero, Dash and Zcash are inherently involved in „high risk activities.

U.S. Attorney General publishes rules to enforce cryptomime laws
According to the Attorney General’s Digital Cyber Task Force Report, released by the DOJ on October 8, cryptomime based anonymity, or AECs, affects and even facilitates the fight against money laundering (AML) and terrorist financing, or CFT, regulations established by companies that trade in fiduciary currency.

The task force cited coins, including Monero (XMR), Dash (DASH) and Zcash (ZEC).

„The Department considers the use of AECs to be a high-risk activity, indicative of possible criminal conduct,“ the report said. „The AECs are often exchanged for other virtual assets such as Bitcoin, which may indicate a technique of cross-layering virtual assets for users trying to conceal criminal behaviour.