Europol Gets Crypto-Related Services Support to Prevent Illegal Activities

16 Major Crypto Companies Join EU Police In An Event To Prevent Money Laundering

About sixteen major crypto exchanges, payment processors and wallet providers have recently joined the European Union Agency for Law Enforcement Cooperation (Europol) in an event which is part of an agency effort to prevent international money laundering.

This conference against money laundering began on Tuesday, in Hague, and lasted for three days. It had authorities from many European countries and the main issues that were discussed during the conference were about tracing people doing illegal activities and thwarting services for hiding funds like coin mixers.

An Effort Against International Money Laundering (And Privacy?)

A spokesperson from the event told the media that the attendees at the conference talked primarily about the abuses of people using virtual currencies to commit crimes and how to enhance the capabilities of law enforcement by cooperation with companies from the cryptocurrency field.

One of the issues that were talked about during the conference was to create a system that could track transactions better, a centralized ledger that could be used to notify the authorities as some companies are already doing.

Many people argue that this would curb privacy, which is one of the most important aspects of the crypto industry, but they seem to be losing that battle in the mainstream field.

Even without the help of the companies, the Europol was able to apprehend an international gang that was hacking ATMs and using cryptos to spend the money, so it looks like the authorities already have a lot under control.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide