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October 3, 2022
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– Bitcoin, cryptocurrencies and blockchain technology.

Will the FBI soon reform its virtual currency practices in line with US Justice Department recommendations? A recent audit of the latter US body on the law enforcement practices of darknet criminal investigations revealed that the FBI is not fully capable of handling cryptocurrency cases today. The authorities are therefore suggesting the implementation of a completely new strategy.

The FBI will take a fresh look at the cryptocurrency market?

According to the public version of the audit released on Thursday, the current FBI efforts to investigate the Darkent are hampered by “Decentralized” a set of practices, policies and training programs. In general, chaos is said to prevail in this field.

In particular, the audit found that there are two separate Virtual Currency Teams to assist with investigations into the dark side of the web, both of which are funded by the Department of Justice asset confiscation fund. also “Rising costs and continued funding from an asset confiscation fund caused a dispute between the two virtual currency teams on the prioritization of resources ”. Not only that, it turned out that these two teams often carried out the same, overlapping activities.

The asset confiscation fund receives some of its funds through the seizure and sale of property and assets, including cryptocurrencies, related to criminal investigations.

The Department of Justice has issued five recommendations to streamline investigations and policies around the Darknet, many of which focus on centralizing procedures to reduce “Ambiguous or overlapping investigative obligations”. This includes the recommendation that “develop a time frame to obtain feedback from the rest of the FBI and complete the development of a support strategy [działań dot.] cryptocurrencies across the FBI.

New law

The Justice Department’s recommendation comes just as the FBI may soon have more work to do with the new rules. The Treasury Law enforcement network recently proposed new rules that would require companies to implement stricter KYC regulations for transactions in excess of $ 3,000.

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