International Cryptocurrency Enforcement Action Announced by The Justice Department of USA

International Cryptocurrency:-

On 18th August 2023 (Wednesday), the Justice Department of the United States took a brave step to announce an International Cryptocurrency Enforcement Action at a press conference under the leadership of Deputy Attorney General, Lisa Monaco. Need for An International Cryptocurrency Enforcement Action Some issues surrounding cryptocurrency transactions which push for the need of an International Cryptocurrency Enforcement Action were discussed at the press conference:

1. Increase in funding of terror using cryptocurrencies and dark net transactions
2. Ease in hiding one’s actual wealth valuation by converting wealth into cryptocurrency stocks
3. Funding of hacking softwares and ransomware on the darknet
4. Using the darknet to create fake stocks of cryptocurrencies which can be used to influence the cryptocurrency market and disrupt its ecosystem.
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How Will The International Cryptocurrency Enforcement Action be Implemented? The start of the Cryptocurrency Enforcement Action was marked by a complete shutdown of the Bizlato firm which was found guilty of funding illicit transactions and ransomware attacks on the darknet Hydra’s marketplace. The Cryptocurrency Enforcement Action team would further engage in tracking down more firms which engage in such activities on the darknet. The International Cryptocurrency Enforcement Action 2023 has been declared to be the largest action undertaken after the launch of the National Cryptocurrency Enforcement Team of the United States in the year 2021. The firms which have been committing financial crimes against the economic health of the United States were also called out as the prime targets of the  Cryptocurrency Enforcement Action 2023. For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true and top stories of the world.