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   Tom Mitchelhill
   May 16, 2023

Secret Service owns crypto, loves blockchain and has an NFT collection:
Reddit AMA

   In a crypto-themed AMA session on Reddit on May 15, the U.S. Secret
   Service answered a wide range of questions and revealed their
   little-known NFT collection.
   8651 Total views
   64 Total shares
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   Secret Service owns crypto, loves blockchain and has an NFT collection:
   Reddit AMA
   News

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   The United States Secret Service owns crypto, has its own NFT
   collection and has praised blockchain technology’s ability to fight
   financial crime, Reddit users learned during a recent ask-me-anything
   (AMA).

   On May 15, representatives from the United States Secret Service San
   Francisco Field Office and the Bay Area Regional Enforcement Allied
   Computer Team (REACT) [46]opened themselves to questioning from members
   of the subreddit r/cryptocurrency.

   While some regulators still see crypto as a tool for [47]fraudsters and
   scammers, the REACT taskforce applauded the public and transparent
   nature of blockchains as an “amazing opportunity” for crime fighters to
   track the flow of money.
   The "ask me anything" Reddit thread from the Secret Service. Source:
   Reddit.

   The Secret Service has previously [48]made the point that the immutable
   nature of the blockchain ledger means that illicit financial activity
   can be more easily monitored and tracked than fiat in some cases.

   An upcoming [49]Netflix-featured Bitfinex story involving some unlikely
   criminals made this point very clear: it’s quite hard to [50]launder
   money using blockchain.

   Answering a follow-up question about how best to hide shady behavior on
   the blockchain, the Secret Service said that if people want to do dodgy
   things financially, it’s best to [51]take the money in cash than
   crypto.
   [5af57998-55ad-454e-8efc-42c0d02b2623.jpg] Secret Service provides
   evidence to Reddit to verify their identity ahead of the AMA. Source:
   Reddit

   Another Redditor asked whether or not the Secret Service itself held
   cryptocurrency, to which the authority said they were “definitely
   holders of crypto” and described themselves as crypto “enthusiasts” in
   later responses. The agency said that owning crypto helps them better
   understand the deeper mechanisms of the crypto world.

   “Pretty much most cases require a certain level of ELI5’ing. It’s
   somewhat of a running joke around here,” the agency explained, with the
   acronym “ELI5” referencing the popular subreddit r/explainlikeimfive.

   Related: [52]Crypto is not criminal: US Secret Service launches ‘crypto
   awareness hub’

   When asked if they see any significant differences between crypto
   crimes and illicit activity in the world of traditional finance, the
   Secret Service noted that the “vast majority” of calls and reports
   received by their office usually involves crypto in some fashion.

     “They vary in a lot of ways to fiat investigations, both in good
     ways and bad ways, but most notable is that crypto transactions are
     irreversible and immutable.”

   While the agencies responded to a wide range of serious questions,
   there was also some fun to be had during the session. When one Redditor
   asked whether the Secret Service would consider launching its own
   “memecoin”, the agency responded by plugging its own [53]NFT collection
   on OpenSea.
   The U.S. Secret Service San Francisco Field Office NFT Collection.
   Source: OpenSea

   Magazine: [54]Cryptocurrency trading addiction — What to look out for
   and how it is treated
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