Europol is committed to developing more aggressive and effective ways to combat violations in the field of digital asset trading and invites Europe's largest cryptocurrency exchanges to join in addressing security challenges.
Fraudsters constantly repeat attempts to steal cryptocurrencies, despite various security measures taken by exchanges, which are depositories of holders' funds. An important task of both exchanges and security authorities is to expose and prevent such crimes. In order to find ways to expand its capabilities in the world of Bitcoin and altcoins, the European Union Agency for Law Enforcement Cooperation (Europol) decided to hold a conference this week with the participation of 12 major European cryptocurrency exchanges.
Bitcoin remains a favorite target of attackers, despite the fact that there are coins that provide a greater level of anonymity, such as Monero. Although crimes are also committed in relation to such coins. Blockchain development firms can help fight crime, but after the fact.
Obviously, the conference may also have negative consequences for the cryptocurrency industry. The agency seeks to disrupt the activities of Bitcoin mixers who hide the origin of funds and believe that monitoring and control over digital coins is necessary.
The agency could benefit from the help of cryptocurrency exchanges due to the fact that coins cannot be frozen or seized directly. However, the exchange on which the funds are stored can easily freeze accounts or wallet addresses to which the funds were received illegally and provide assistance to the Agency.
Another option to combat crime is to create a centralized system for tagged cryptocurrency addresses. All these measures are designed to give greater legitimacy to the cryptocurrency industry and are aimed at its legalization. However, whether they will be implemented is still unknown, and how legalization relates to the principles of anonymity and decentralization also remains unclear.
According to https://www.newsbtc.com
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