U.S. Department of Justice says use of privacy coins indicates possible criminal conduct

Privacy coins are attracting more attention from the US government than ever before.

A new U.S. Department of Justice report alleges that Crypto Revolt coin traders who handle coins such as Monero, Dash and Zcash are inherently involved in „high-risk activities“.

According to the „Report of the Attorney General’s Digital Cyberwork Task Force“ released by the Department of Justice on October 8, anonymity-enhanced cryptomonies, or AECs, undermine and even facilitate the current anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations established by companies that operate fraudulently. The working group cited coins such as Monero (XMR), Dash (DASH) and Zcash (ZEC).

„The Department considers the use of AECs to be a high-risk activity that is indicative of possible criminal conduct,“ the report states. „AECs are often exchanged for other virtual assets such as Bitcoin, which may indicate a technique of cross-linking virtual assets for users trying to conceal criminal behaviour.