Senate Bill Enhances US Secret Service’s Role in Addressing Digital Asset Cybercrime
U.S. senators have introduced the “Combatting Money Laundering in Cyber Crime Act” to enhance the Secret Service’s ability to investigate cybercrimes involving digital assets.
Senators Catherine Cortez Masto, Chuck Grassley. And Amy Klobuchar aim to address the increasing use of cryptocurrencies for illicit activities like money laundering and terrorist financing.
The bill proposes updating laws to include new digital asset-related crimes under the Secret Service’s jurisdiction and mandates the Government Accountability Office to assess law enforcement’s effectiveness in tackling these crimes. Companion legislation has also been introduced in the U.S. House.
Clever Robot News Desk 5th August 2024
