The President of the United States of America, Donald Trump, has presented his project proposal for the country’s budget. Valued at 4.8 trillion dollars, the Trump administration’s proposal would include an important movement to strengthen the fight against cybercrime. Including the one related to cryptocurrencies. We refer to the return of the Secret Service to the Treasury Department.
The Secret Service
In 1865, the federal government of the United States created an agency within the Department of the Treasury: The Secret Service. This body was responsible for working to prevent attacks against the United States currency, the dollar. Well, at the time of its creation, at least one third of the dollars in circulation were fakes.
With the passage of time, their functions were growing. Until after the assassination of President William Mckinley in 1901, they assume the protection of the President of the United States. However, the real change for the agency would come after the September 11 attacks. When it passes from the Treasury Department, to be under the direction of the Department of Homeland Security.
A movement that President Trump would be trying to reverse. Returning command over the Secret Service to the Treasury Department. In an attempt to expand the capabilities of his government, to fight against the new types of crimes that are emerging worldwide.
Trump’s fight against cybercrime
The Trump administration’s proposal would come from the recognition of the increasing complexity of the threats of the modern world. Especially those related to cybercrime and cryptocurrencies, and that require a specialized body to combat them. Which is highlighted within the budget proposal:
«The technological advances of the last decades, such as cryptocurrencies and the growing interconnection of the international financial market. They have resulted in more complex criminal organizations. Y have revealed stronger links between financial and electronic crimes and the financing of terrorists and agents of criminal statess ».
The document also emphasizes the use of cryptocurrencies for illegal purposes. Among them the sending of money for the Assad regime in Syria. Or as a method of Russia to avoid the economic sanctions established by the West, after the taking of Crimea in Ukraine.
Therefore, upon returning the Secret Service at the hands of the Treasury Department, as Trump intended. The coordination of intelligence agencies, financial institutions and regulators would be left in the hands of this branch of the American government.
To detect cybercrimens that involve cryptoactives and stop them. Allowing, thanks to the centralization of the direction of the fight against cybercrime, a more efficient performance.
In this way, the Donald Trump government is committed to paying greater attention to the threat of cybercrime in our world. Creating mechanisms to combat those who make use of technology for criminal purposes. What makes this our Today’s Data here at CriptoTendencia.
International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.