Over the past few months, the U.S. government and its special agencies have been ramping up their efforts to try to regulate bitcoin and digital currencies. This week the Justice Department's Deputy Attorney General Rod Rosenstein spoke about cryptocurrencies at the Financial Services Roundtable this Monday in Washington, DC.
The Justice Department's Cybercrimes Task Force Will Develop a Cryptocurrency Focused Strategy
According to multiple reports, the Justice Department is planning to launch a comprehensive strategy for cryptocurrencies. In a caucus filled with American bankers, Deputy Attorney General Rod Rosenstein said cryptocurrencies are a "new challenge" and the agency is planning on tending to the issue soon. At the Financial Services Roundtable Rosenstein discussed the subject of cryptocurrencies with Governor Tim Pawlenty (R-MN).
"A new challenge we face of course is cryptocurrency, because a lot of these schemes involve Bitcoin and other cryptocurrencies, which do not flow through the traditional financial systems," Rosenstein reveals.
So what we're working on now with our cybercrimes task force within the department is an effort to develop a comprehensive strategy to deal with that.