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US Department of Justice recommends FBI update its crypto practices

US Department of Justice recommends FBI update its crypto practices

Quick take

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  • An audit recently released by the United States Department of Justice of the FBI practices regarding darknet criminal activity concluded that the bureau is currently in disarray and that a “cryptocurrency support strategy“ could be a solution.
  • According to an unclassified version of the audit that was released at the end of last week, the investigation into Darknet activities by the FBI has been hit by some decentralised set of practices, policies, and training programs.

An audit recently released by the United States Department of Justice of the FBI practices regarding darknet criminal activity concluded that the bureau is currently in disarray and that a “cryptocurrency support strategy“ could be a solution.

According to an unclassified version of the audit that was released at the end of last week, the investigation into Darknet activities by the FBI has been hit by some decentralised set of practices, policies, and training programs.

Interestingly, the audit highlighted that there were two separate virtual currency teams that will assist with investigations into this matter.

Both of these teams are funded by the Department of Justice and the asset forfeiture fund. The Department of Justice has requested five recommendations that would help improve investigations into Darknet activities and policies.

This included, “Develop timelines to obtain feedback from remaining FBI divisions and complete its development of the FBI-wide cryptocurrency support strategy”.

Due to new regulations, the Federal bureau may have more work on their hands as recommendations come from the Department of Justice. The financial crimes in Forssmann network for the Treasury has recently put forward rules that would require platforms related to cryptocurrency to know your customer their clients for transactions of more than $3000.

For more news on this and other crypto updates, keep it with CryptoDaily!

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