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US Customs Tracks Cryptocurrency Transactions

US customs successfully track financial transactions with cryptocurrencies. This is stated in the report of the Office ( PDF ) on drug trafficking and other illegal activities. Criminals, the document notes, often use the resources of the so-called “darknet”, where Bitcoin, Monero and other cryptocurrencies act as means of payment.

However, criminals are forced to exchange cryptocurrency for fiat money and back. It is at this moment that they can be tracked. The report argues that “some success” in this area has been achieved and the authorities are able to track down drug dealers who prefer cryptocurrency to traditional means of payment.

Mentioned in the report and startups associated with cryptocurrency: they deliver certain inconveniences because they refuse to register as financial organizations. For this reason, they retain the anonymity of people using their services. But American customs do not lose heart: “We are actively preparing new investigators who can restore order.”

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