Europol launches task force to combat cryptocurrency crime

Europol, the highest law enforcement agency of the European Union (EU), has recently established a new working group dedicated to the study of digital currencies.

Also participating in the working group are Interpol, an intergovernmental organization focused on law enforcement issues, and the Basel Institute on Governance (BIG), a non-profit organization dedicated to combating financial crime in the public and private sectors.

The working group released a statement last week saying its main activities involve collaborative workshops and a global network of experts.

Europol said:

As network technology becomes more advanced, criminals are becoming more sophisticated in their methods of carrying out illegal activities. Among various network technologies, digital currency has completely changed the criminal underground.

Europol and Interpol have been working together on digital currencies since last year, organizing conferences and training sessions for law enforcement representatives around the world.

Recently, Europol has established a partnership with blockchain startup Chainalysis to better track digital currency transactions.