A recent survey noted how the demand for crypto training was still rampant, as enforcement agency officials underlined its significance amidst rising crimes.
With the rising popularity of crypto, instances of crime are gradually increasing in the industry. A recent survey noted the change and outlined how the demand for crypto training had increased as a result. The majority of the respondents in the survey were from the US, with the others being from internal enforcement agencies. The US officials who participated in the survey ranged from federal agencies to state, local and county agencies.
The survey, ‘Tackling Crypto Crime,’ stated how 40% of the officials’ investigations involved crypto. The officials expect the number to rise to 50% by 2027. Federal agencies fared better than others in crypto adoption. 50% of them used blockchain analytics tools compared to only 11% of the state agencies. Besides, 60% of respondents believed they lacked the appropriate blockchain analytics tools to tackle such crimes.
Many issues like expertise, funding and lack of training in blockchain analytics tools have gripped US agencies. On a positive note, most officials noted the importance of these tools and their use cases in mitigating financial crimes in the crypto space.
The survey report said, “The good news is that law enforcement agencies are making unprecedented investments in training and tools. What’s more, eight out of 10 respondents said investigators were highly empowered by their organizations with the decision-making power to pursue cryptocurrency-related offenses.”
The US is behind other crypto-hub countries in terms of crypto regulation. Despite the slow progress of regulatory laws, crypto has become popular among US financial services. Financial service industry stakeholders have actively pursued crypto projects recently, and the trend may continue. At this rate, the importance of crypto training and blockchain analytics tools for enforcement agencies could become more important.
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