New Europol Powers May Lead to Blockchain Analysis Task Force
Bitcoin has been referred to as a tool that makes it easier for terrorist groups to acquire funding. The recently-acquired enhanced cyber powers by Europol may be used to crack down on Bitcoin and blockchain. In this day and age of digital information and online connectivity, it is hard for law enforcement agencies to sniff out culprits in a convenient....
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Europol, the European Union's law enforcement agency that deals with criminal intelligence is calling for police to be given additional powers when it comes to identifying wrong-doers, particular those who are laundering money using bitcoin and other digital currencies. "We're seeing that virtual currencies are being used as an instrument to facilitate crime, particularly in regard to the laundering of illicit profits," said Rob Wainwright, director at Europol, at a nuclear security conference in The Hague, Netherlands. Europol doesn't have their own policing powers, but they say that....
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....
Some of the primary duties assigned to the task force involve making policy recommendations related to blockchain and related technologies. After nearly a three-year-long discussion about establishing a task force to oversee blockchain and crypto initiatives, the governor of Utah, Spencer Cox, signed a bill to create the Blockchain and Digital Innovation Task Force.The Utah State Legislature first saw the introduction of the house bill (H.B. 335) in early February 2022, which took nearly two months to pass through several senate, house and fiscal actions before finally being signed by....
This week, the Conference of State Bank Supervisors (also known as the CSBS) made an announcement of a new task force charged with the task of studying today's changes in payment systems. The Task Force, aptly named the Emerging Payments Task Force, will set their attention on digital currencies and other innovations down the line "to determine the potential impact on consumer protection, state law, and banks and non-bank entities chartered or licensed by the states." The Task Force will engage with a broad range of stakeholders - including fellow state regulators, federal regulators,....
The task force will submit findings and potential legislation back to the State Capitol — which involves providing a plan to expand blockchain adoption in both the private and public sectors. Two committees of the Hawaii State Legislature — Commerce and Consumer Protection (CPN) and Ways and Means (WAM) — unanimously approved the launch of a specialized task force to explore the use and regulation of the crypto ecosystem.In a letter addressed to the President of the Hawaii Senate, Ron Kouchi, legislative members Donovan Dela Cruz and Roz Baker wrote in support of creating a “Blockchain and....