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Home Tech Crypto How Long Is the Arm of the Law? August 7-14

How Long Is the Arm of the Law? August 7-14

Document Analysis NLP IA

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redaction

Subjectivity0.43709760746798
probably it's an affirmation
Affirmation0.35714285714286

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Summary (IA Generated)

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.

A fascinating technology very few understand attracts people who can earn a lot of money at the expense of other people wanting to earn a lot of money.

With the ICO boom, the SEC took a long time to put together the tools to grapple with billions of dollars changing hands, but grabble they have.

In that cheery spirit, we’re looking at a series of recent upgrades to government capabilities to track and punish illicit crypto usage.

US sets new standard for tracking down terrorist-bound crypto In groundbreaking news for the future of illicit financing in crypto, the Justice Department announced the seizure of millions of dollars in crypto bound for Al-Qaeda, ISIS and the militant arm of Hamas.

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have been working hard to cope with crypto as a channel to fund terrorism for years.

A major moral distinction to interrupt such philosophizing is that Bitcoin doesn’t kill people, though, as with all money, plenty of people are prepared to kill to get Bitcoin.

It takes the Department of Justice, the Department of Homeland Security, the IRS and the FBI a very long time to work together on anything.

Major media outlets like the New York Times and the Washington Post were tagged in to get the story amplified right out the door.

While recent developments around the world, especially from Chainalysis, Ciphertrace, and the younger Elliptic have done much to pull the veil off of the “anonymity” that governments so fear in networks like Bitcoin, Rosinfomonitoring’s plans apparently include tracking for privacy coins like Monero and Dash.

Despite widespread and growing interest in the area and questions as to how private some of these so-called privacy coins are, some have proved quicker at adapting their tech than the people looking to track it.

To public appearances, Russia is relatively late to the game.

While government agencies continue to onboard crypto capabilities, there’s a major barrier that resources don’t always make up for.

In the more security-sensitive areas of tech generally and cryptocurrencies specifically, there’s deep hostility towards working with the government.

If you take privacy tokens, a lot of the people who understand them best are people who would least like to work with the government.

at least, the intelligence community has a hard time squaring their security clearance processes with the hackers and cypherpunks they’d need to hire to stay competitive.

The order is part of what seems to be a continuing trend of the SEC’s improving knowledge of crypto jargon and technology, even in cases small enough where they were probably not expending a ton of the commission’s resources.

Typically, ICO pursuits of this scale have depended on obvious thefts of funds — lambos showing up in the driveways of homes recently purchased by token operators using funds they can’t account for.


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