Trump Administration Working on Comprehensive Strategy for Digital Currency

The deputy attorney general of the United States, Rod Rosenstein, stated on Tuesday that the authorities is operating on a complete strategy regarding on digital currencies. Rod Rosenstein spoke at the Financial Services Roundtable’s spring conference this week and, throughout a question-and-solution consultation, Rosenstein was requested about his perspectives on digital currency and cybercrime. Amid his comments, Rosenstein noted a new cybercrime venture force unveiled remaining week by the Justice Department in order to develop a strategy around crimes regarding the technology.

Rod Rosenstein stated:

“Plenty of these schemes involve bitcoin and different digital currencies which do not flow via the conventional economic system. What we are working on now with our cybercrime task force is an operating on a comprehensive way to cope with that.”

Trump Administration

The task force functions representatives from a number of regulation enforcement organizations, including the Federal Bureau of Investigation, the United States Marshals Service and the Drug Enforcement Agency, amongst others. Rod Rosenstein significantly dispelled the concept that digital currencies are completely anonymous they’re, pseudonymous and remarked that the laundering method leaves clues for federal investigators to comply with to the source.

Rod Rosenstein said:

“We all realize there are methods to trace criminal activity. Typically, it is not about cyber activity, there will be different approaches that people will leave trails. However, even if coping with digital currency, they are going to want to convert, launder it into physical currency, and so there are methods to trace these operations.”

Rod Rosenstein

A key element of the Justice Department’s efforts, he mentioned, is teaching federal officials on how the technology works and the strategies for following such virtual trails.

Rod Rosenstein said:

“One of the demanding situations we’ve in law enforcement is ensuring our personnel are completely professional, so that is one among our demanding situations, to ensure we’ve the marketers and the prosecutors with the capabilities and the expertise. Due to the criminals will constantly be one step ahead.”

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