CIA is working on projects that concentrate on crypto, reveals the director of the agency
CIA is working on projects that concentrate on crypto, reveals the director of the agency
- According to the director of the Central Intelligence Agency (CIA) William Burns, the agency has released several projects that concentrate on cryptos.
- Burns said that collecting information about cryptos is very important for the agency, and he plans to use resources and attention.
The cryptom market has recently attracted the attention of legislators and financial supervisory authorities, since it continues to be accepted. Many financial supervisory authorities across Europe have proposed various regulatory frames for their work at the British Financial Supervisory Authority (Financial Conduct Authority), which make it a prerequisite for stock exchanges and meet new requirements.
Interestingly, other authorities, including secret services, examine their use and opportunities to combat cybercrime that exploits cryptocurrency. According to the director of the Central Intelligence Agency (CIA) William Burns, the agency has released several projects that Focus on cryptos.
According to him, it is very important to collect information about cryptos for the agency, and he plans to use resources and attention for it. Although its predecessors have initiated most of these projects in the agency, his administration will concentrate more on it. In a speech on the CEO Council Summit of Wall Street Journal, the CIA director announced that they are currently trying to add experts in crypto and blockchain to their team of intelligence agentry. You have also communicated with industry experts to get important information for your next step.
former CIA director initiated blockchain-focused projects
According to Burns, he saw the effects of ransomware attacks in the USA and believes that even the crypto room could have enormous effects on the country. With regard to his endeavor to combat cyber attacks, no details were announced about the planned direction, but he mentioned that it will uncover and take part in financial networks for criminal groups, the ransom in digital currencies.
burn also mentioned the efforts of the former incumbent CIA director.
[They] had started several different projects that focused on cryptocurrencies and tried to examine the consequences of second and third order and to help our colleagues in other parts of the US government to provide solid knowledge about what we also see.
Michael Morrell, a former acting director of the CIA (2012-2013), noticed the importance of blockchain for its operation when he said that blockchain analysis is an important instrument for combating crime and collecting information that is used by the law enforcement authorities. According to Morrell, blockchain technology ensures that the law enforcement authorities pursue a more sophisticated proactive network strategy in order to recognize illegal activities.
Firstly, it can be used as an investigation instrument in existing cases; Law enforcement authorities can use the blockchain to uncover the illegal activities of the goal of an examination (and to identify other potential malicious actors who are connected to this goal via the blockchain). Second, it can identify previously unknown malignant actors by using algorithms of artificial intelligence, which were developed from patterns of illegal actors in the ecosystem.
Source: Crypto-news-flash.com