US Secret Service Asks Congress for Help to Prevent Illicit Use of Privacy Coins

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June 23 2018

Deputy Assistant Director of the US Secret Service’s Office of Investigations, Robert Novy, gave a testimony before the House of Representatives Financial Services Subcommittee on Terrorism and Illicit Finance on June 20.

Novy explained that his agency is primarily concerned with the use of cryptocurrencies “in criminal schemes that undermine the integrity of financial and payment systems, their use in cases of fraud, and their general use as a means of money laundering.”