The Department of Justice said in a new report that law enforcement is hampered by the global nature of digital coins and the lack of consistent regulation across regions.
Cryptocurrencies in general are called detrimental to the safety and stability of the international financial system due to the opportunities for rogue nations, criminals and terrorists to skirt reporting requirements.
“Current terrorist use of cryptocurrency may represent the first raindrops of an oncoming storm of expanded use,” stated Attorney General William Barr’s Cyber-Digital Task Force.
The task force warned that cryptocurrencies provide bad actors with the means to earn illegal profits and become a threat to national security.
The DOJ’s larger goal with the report is to lay out a framework for cryptocurrency enforcement.