International task force exploring criminal ties to virtual economies
The International Center for Missing and Exploited Children has joined forces with Thomson Reuters to examine what impact digital currencies are having on criminal activities such as child trafficking. This task force is working with the Bitcoin Foundation to see whether decentralized currencies play a role. Together, the organizations will tackle digital money laundering as a means to support human trafficking, child pornography and other crimes. ICMEC has in the past drawn connections between commercial child pornography and the fact that most people buying it were using credit cards. It....
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Thomson Reuters and the International Center for Missing and Exploited Children (ICMEC) have formed a task force to look at the impact of the digital economy on criminal activities such as child trafficking. They are working with the Bitcoin Foundation to explore decentralized currencies as part of the effort. The organizations will explore how criminals may be laundering money via digital payment systems to support activities such as human trafficking and child pornography. Around eight years ago, ICMEC discovered that the commercial child porn industry was proliferating on the Internet,....
The United Kingdom is the latest country to begin exploring the possibility of creating a central bank digital currency. Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency.In a document published by HM Treasury, the exchequer announced the creation of a CBDC taskforce in collaboration with the U.K.’s central bank.Jon Cunliffe, deputy governor of the Bank of England and Katharine Braddick, director general of financial services at HM Treasury will co-chair the task....
Consolidation of law enforcement activity sends a clear message to the industry: It is time to comply. On Feb. 17, United States Deputy Attorney General Lisa Monaco announced at the Munich Cyber Security Conference the formation of the new task force “dedicated to cryptocurrency” within the Federal Bureau of Investigation (FBI). Coming four months after the launch of the Justice Department’s National Cryptocurrency Enforcement Team (NCET), this marks another major step in the U.S. government’s crusade against criminal abuse of cryptocurrencies. What the task force will look like The name....
A public-private task force has submitted a report to the Biden administration that includes recommendations to tighten the regulation of cryptocurrencies, including bitcoin, with the aim to combat ransomware. “The cryptocurrency sector that enables ransomware crime should be more closely regulated,” the task force wrote. White House Urged to Tighten Crypto Regulation A task force, organized by the Institute for Security and Technology, submitted a report entitled “Combating Ransomware” to the Biden administration Thursday with 48 recommendations, some of which aim....
The proposed crypto task force will examine the impact of crypto and digital currencies across the Commonwealth of Pennsylvania. A bill to establish a crypto task force in Pennsylvania has been introduced in the state’s General Assembly.According to the details of HB1724 published by LegiScan, the proposed crypto task force will be mandated to examine the potential impact of widespread crypto and digital currency adoption in the state.A moderately partisan bill introduced by eight Democratic and two Republican members of the General Assembly, the proposed legislation, if passed, will be....