US Secret Service holds NFTs, complements blockchain technology in Reddit AMA

US Secret Service holds NFTs, complements blockchain technology in Reddit AMA

During a recent Reddit Ask Me Anything session, the United States Secret Service said they are crypto enthusiasts, even pronouncing their mushrooming NFT collection. The agency also hailed praises for the immutable characteristics of blockchain technology. 

Blockchain under tight security 

A recent Reddit ask-me-anything (AMA) highlighted the stance of the agency tasked to guard the President, the US Secret Service, on cryptocurrency and the blockchain. The agency, also mandated to combat financial crimes, acknowledged the blockchain’s capability to deal with monetary offenses. 

Agents from the United States Secret Service San Francisco Field Office, in conjunction with the Regional Enforcement Allied Computer Team (REACT) of California, welcomed questions from subreddit r/cryptocurrency community members.

During the session held on May 15, they discussed curbing cryptocurrency-related crimes, including “pig butchering” cons. The Secret Service NFT collection and modes of secreting transactions from the state are also featured in the discussion. 

The REACT team commended the levels of transparency that the blockchains portray, terming it a fantastic opportunity to aid crime busters in following the money trail. The Secret Service was on record indicating that the blockchain’s immutable ledger provided a better way of monitoring transactions than fiat on several occasions. 

No shady deals through the blockchain 

While relating to the Bitfinex story yet to air on Netflix encompassing questionable criminals, it is evident that it is improbable to use blockchains to launder money. The Secret Service, while responding to a question on how to conceal deals through the blockchain, indicated that it is easy to use cash in performing dodgy monetary activities than using the blockchain. 

A Redditor inquired whether the Secret Service had crypto; the organization said they were crypto enthusiasts and held cryptocurrencies. According to the agency, holding crypto was the best way to know how the crypto world operates since most calls they receive concern financial crimes related to crypto. 

The Reddit AMA session incorporating the Secret Service comes when other regulatory agencies have pushed the button to pursue cryptocurrencies in all ways. The session brought a light moment when the Secret Service plugged their NFT collection on OpenSea to respond to the Redditor who wanted to know whether they were planning to launch their “memecoin.”

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