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The U.S. Secret Service, a federal law enforcement agency tasked with protecting – mostly the president – the nation’s top officials and financial infrastructure, has recently made headlines due to its interest in cryptocurrencies and blockchain technology.
During a recent Reddit “Ask Me Anything” (AMA) poll, representatives from the agency revealed that not only does it own cryptocurrency, but it also has its own collection of NFTs.
In addition, the agency praised the potential of blockchain technology in the fight against financial crime, pointing to the growing awareness and adoption of these technologies in law enforcement.
Secret Service Appreciates Blockchain Transparency in Combating Financial Crime
During the AMA session, the U.S. Secret Service’s San Francisco field office and the Bay Area Regional Law Enforcement Computer Team (REACT) answered various questions from the public. While not all questions were answered, some were answered by law enforcement.
Despite the skepticism of many regulators towards cryptocurrencies as a tool commonly used by scammers and fraudsters, the REACT task force has recognized the significant potential of blockchain technology to combat financial crime, applauding its inherent transparency.
AMA Reddit thread from the US Secret Service. Source: Reddit.
This approval marks a major turning point as the task force sees blockchain as an exceptional opportunity in the ongoing fight against fraud. By leveraging the public and transparent nature of blockchain, law enforcement can more easily track the flow of money and identify potential financial crimes.
They said:
“The beauty of the blockchain helps us keep track of funds, but attributing wallets to individuals is a different story… It’s only anonymous as long as it isn’t.”
But even then, the US commander’s bodyguards said that in each case “we have applicable laws, and we must follow the legal process when identifying intruders.”
Secret Service Recognizes Cryptocurrency and NFT Ownership
The AMA session touched not only on various serious topics, but also on some light-hearted moments.
During the session, a Reddit user asked if the Secret Service had any plans to create their own meme coin. The agency answered the question by promoting their own collection of NFTs available on the OpenSea platform.
This exchange shows that the agencies have been open to interacting with the public on a lighter note and are ready to show their interest in blockchain technology by highlighting their collection of NFTs.
An inquisitive Redditor asked if the Secret Service had any kind of cryptocurrency. In response, the agency candidly stated that they are indeed cryptocurrency holders, even going so far as to describe themselves as “cryptocurrency enthusiasts” in subsequent responses.
The Secret Service acknowledged that owning cryptocurrencies gave them a deeper understanding of the complex workings of the crypto world, emphasizing the importance of becoming familiar with these new technologies.
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Another Reddit user tried to unravel the mystery surrounding Satoshi Nakamoto, the enigmatic creator of Bitcoin. They asked the agencies if they had any further information or ongoing investigations to unmask the person behind the pseudonym.
The Secret Service replied lightly but cryptically:
“We may know Satoshi, but he is classified!”
We may never know if the Secret Service actually has any insider information about Bitcoin’s mysterious creator, but it’s fun to imagine that it does.
– Featured Image by SETH HERALD/AFP