White House Sets Sights On Crypto Threats In 2021 Budget

Law360 (February 10, 2020, 10:21 PM EST) -- In its budget for fiscal year 2021 released Monday, the Trump administration has proposed moving the U.S. Secret Service back to the U.S. Department of the Treasury, citing the need for increased efficiencies in combating threats stemming from financial technology including cryptocurrencies.

In addition to moving the Secret Service to Treasury after nearly two decades in the U.S. Department of Homeland Security, the proposed budget would provide the law enforcement agency with $2.4 billion in funding.

The administration’s budget also proposes $127 million to support the Financial Crimes Enforcement Network, which “links law enforcement and intelligence agencies with financial institutions and...

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