Trump's Draft: Crypto-crime targeted by the US secret service

Trump's Draft: Crypto-crime targeted by the US secret service

US President Donald Trump has presented the draft budget for 2021. It suggests, among other things, the relocation of the US secret service to the US Treasury. As a result, the ministry could be given more powers to prosecute crypto-criminal offenses in the future.

The Trump administration's draft budget includes cuts in social spending and an increase in the military budget, as well as proposals to delegate supervisory powers to financial crime. The draft considers the U.S. Secret Service's anti-money laundering withdrawal from the United States Department of Homeland Security and reports it to the United States Department of the Treasury.

Trump is paying attention to crypto-crime

The budget is moving US intelligence back to the Treasury to combat cybercriminal money laundering and terrorist financing activities. If the U.S. Congress approves Trump's budget, the U.S. Treasury Department will gain more oversight and law enforcement powers over crypto activity in the future.

The Secret Service was established in 1865 within the Treasury to protect the president and fight counterfeiting and financial fraud. The secret service has been operating in the Ministry of Homeland Security since 2003.

According to the budget, the merging of the intelligence agency and the Ministry of Finance is to be an effective tool in the fight against financial crime:

The technological advances of recent decades, such as For example, cryptocurrencies and the increasing interconnectedness of the international financial market have [...] exposed stronger links between financial and cybercrime and terrorist and rogue funding. The budget proposes a law to return US intelligence to the Treasury to increase efficiency in investigating these crimes and prepare the nation for tomorrow's threats.

Trump is backed by Treasury Secretary Steven Mnuchin. In a press release released on Monday, February 10, Mnuchin said the draft was in the sense of "US national security interests":

It is also important to increase funds for the “Financial Crimes Enforcement Network” in order to better protect Americans from cybercrime. To better equip the nation to fight tomorrow's crimes, a budget law is proposed to bring intelligence back to its original location in the Treasury.

However, it seems unlikely that the budget will come from Congress, as the Democrats form the majority in the House of Representatives.

►Website: http://axtschmiede.com
Support My Work On Patreon https://www.patreon.com/zealftw
If you want to support me for free then you can do so via the following options, thank you!
Use the Bittube browser And Make Money While Browsing! Here’s the link: https://bittubeapp.com/?ref?2JXLODL50

Publish0x – a place where both Readers and Bloggers Earn Crypto https://www.publish0x.com/?a=open5lPd7A

Earn Bitcoin through one of the oldest Faucets https://freebitco.in/?r=18413045

Earn Litecoin http://moonliteco.in/?ref=b50d5a9004e3

Earn BItcoin Cash http://moonbitcoin.cash/?ref=536CAB98A8B8

Earn BTC http://moonbit.co.in/?ref=17c0b775e45a

Join me On Minds and earn even more Cryptocurrency! https://www.minds.com/register?referrer=THauerBYI

Signup and get a FREE Guide on How To Create your Morning Routine! https://mailchi.mp/f5cabc2538c0/selfimprovement