Historians usually date the birth of international police control as we know it today to the nineteenth century as a response to the explosion of nationalist movements and non-state political radicalism in Europe. Just as new transmission technologies such as the telegraph and the steam engine have helped and supported new networks of the unfortunate politically and any number of Sherlock Holmes plots, the explosion of communication technology in the past quarter century has led to new forms of crime.
You know, everyone knows it negatively. In cryptography, association with crime is a well-known, but certainly not unique, reputation problem. New technologies take and give. There is also a growing interest by the police in controlling new networks. Quasi-national organizations such as drug cartels and terrorist cells will come to mind.
This week, the US Department of Justice saw criminal charges against ISIS operatives responsible for the deaths of the United States, including James Foley, a measure that expands their powers to prosecute foreign agents as criminals under US law. The FBI also broke up a homemade plot by right-wing extremists to kidnap the governor of Michigan. In the field of cryptocurrencies, many jurisdictions have announced their rights to new powers, in particular, the Ministry of Justice has taken a number of steps to expand its jurisdiction.
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The Justice Department’s new “cryptocurrency enforcement system” demands a set of powers over previously forgotten cryptocurrencies. Most notable is the generosity of what the Justice Department calls its jurisdiction – basically anything that affects a servant in the United States.
The new structure heralds a new era in cryptocurrency management in the department, but it represents the clearest outline of the growing number of precedents that US regulators have set from the Securities and Exchange Commission to the IRS over the years.
The criminal charges brought by the US Department of Justice against executives at BitMEX in Seychelles last week demonstrated to some extent their particular interest in combating crypto crimes, no matter where in the world he is. Much of the participation in cryptocurrency trials abroad has focused largely on networks that the Justice Department has deemed primarily designed to finance terrorism or extort money from sanctioned individuals. While the Justice Department has accused BitMEX of being a vehicle for such measures, the charges against the administration do not accuse them of ideological or political illegality, but of old greed.
Concern about the crypto community is, as always, associated with criminal activity. The DOJ report highlights the potential of blockchain technology to revolutionize payments, economics, international trade, delivery, trust, consensus, and more. For technology.
Another cause for concern is that tech-savvy people in the United States can bypass barriers to any crypto company with great profit and time potential. As with the general trends of the past year, it appears that US authorities are already working to expand the legal framework to give themselves jurisdiction over cryptocurrencies almost everywhere. In fact, the world’s police.
The UK is closing the doors to the entire type of crypto investment
The UK Financial Conduct Authority has banned trading of cryptocurrency derivatives, including futures, options and swaps, for all retail investors since January.
While the FCA may not be as aggressive towards cryptocurrencies as its American counterparts, London remains the financial center of Europe. Like Brexit itself, there have been expected immigration delays from London that appear to run counter to all bold expectations.
Focusing on retail investors, the Financial Conduct Authority (FCA) has clearly crafted its new ban as a defensive maneuver for ordinary Britons rather than an obstacle to the ruling heavyweights of the London Stock Exchange.