The United States Securities Exchange Commission (SEC) has adopted a blockchain forensics tool. Despite seemingly favouring the tech, the agency is not so friendly about the product backed by this tech, namely cryptocurrency.
The COVID-19 pandemic and global economic crisis triggered the increase in illegal activity related to cryptocurrency. However, law enforcers also keep themselves busy to fight the growth and put as many criminals behind bars as possible.
The United States Securities and Exchange Commission (SEC) has been showing hostility to the cryptocurrency businesses. While pressing hard on some projects including Telegram’s TON network and Bitcoin ETF proposals, the regulator fails to establish regulatory clarity within the industry.
The US Senate adopted new legislation allowing law enforcement agencies to access encrypted data. Such provisions would complicate the operation of the cryptocurrency industry within the country, forcing businesses to go offshore.