US Department of Justice says use of privacy currencies is ‚a sign of possible criminal conduct

Privacy currencies are receiving more attention than ever from the US government.

The new US Department of Justice (DoJ) report released Thursday says that crypto currency traders dealing in currencies such as Monero, Dash and Zcash are inherently involved in „high risk activities“.

According to the Attorney General’s Digital Cyber Task Force Report released by the DOJ on Oct. 8, cryptomore-based currencies, or AECs, affect and even facilitate the fight against money laundering (AML) and terrorist financing, or CFT, regulations put in place by companies that trade in fiduciary currency.

The task force cited coins, including Monero (XMR), Dash (DASH) and Zcash (ZEC).

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

This is a developing story and will be updated.