USA launch National Cryptocurrency Enforcement Team

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Avatar for claudio83
1 year ago

The will of the USA to fight on the front line all those who illegally use Bitcoin and altcoins has now formally materialized with the birth of the *NCET or National Cryptocurrency Enforcement Team. The growing number of hackers and viruses requesting BTC or other cryptocurrencies in ransom has become alarming and it is not easy to trace the identities behind each address and not all platforms collaborate with the authorities to trace the criminals.

A team of computer scientists will then have the task of monitoring the network and tracing the loot or platforms that allow criminals to obtain and accumulate money illegally. The fight against the Dark Web thus begins. Where there is wealth, there is someone who is ready to steal it, a Robin Hood who, however, often scams small users or platforms that manage small investors' money.

The number of hacker attacks on blockchains has increased exponentially in recent months, a market that today attracts over $ 2.3 trillion and the ability to move money quickly, leaving users unable to react or be able to somehow way to report the incident to competent bodies. The positive aspect of the blockchain is often overshadowed by fraud or events related to the underworld that distract from the real usefulness and benefits that the new technology can bring to the community.

But is this really the reason for the creation of the National Cryptocurrency Enforcement Team? We know at the moment that Bitcoin is the subject of strong discussion and the regulatory bodies are demanding regulation of crypto platforms in order to be able to identify all users. Is the reason only related to security and the dark web? Or is it the gateway to controlling the entire network?

We will see in the coming months if the NCET will really have a positive impact on the number of hack attempts in the crypto sector. It could therefore become a tool that encourages the blockchain and large investors who still observe the evolution of technology as spectators and not as protagonists.

The SEC chief responded to a question put by Ted Budd, a Republican congressman from North Carolina. The question was simple: is the US going to ban cryptocurrencies in favor of a CBDC like it did in China?

Gary Gensler's answer was clear: no. Or rather, it will not be up to the SEC to ban cryptocurrencies, it will be a decision of Congress.

However, he also reiterated that there is a need for regulation, for DeFi platforms and for centralized exchanges, which will have to have the permissions of the SEC. Finally, he added that most cryptocurrencies fall under the definition of security.

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Avatar for claudio83
1 year ago