An AMA session with the US Secret Service that took place on 15 May via the Reddit platform disclosed that the agency held onto cryptocurrencies to understand the functioning of the technology. The law enforcement agency also answered a few other crypto-related questions posed by individuals.
The agencies stated that blockchain technology did help them fight crimes
On the one hand, the Secret Service’s crypto division was officially instated in March 2022. And there are currently a total of five agents working at the agency. The division was put in place as the enforcement agency is responsible for safeguarding the country’s financial infrastructure, alongside protecting leaders. REACT Task Force, on the other hand, focuses on investigating high-tech crimes.One question directed at the Secret Service pertained to whether or not it holds cryptocurrencies.
Moreover, REACT Task Force also opined on the transaction traceability of cryptocurrencies. A user questioned, “Is the inherent traceability and pseudonymity of some cryptos seen as a pro to crime fighters.” This was taking the narrative of crypto enabling criminal activities into account. REACT Task Force stated that blockchain technology did, in fact, give them “an amazing opportunity” to money flow.
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