The US Postal Service is auditing the crypto policies of its enforcement arm

Mar 24, 2021 | The Block News | 0 comments

the-us-postal-service-is-auditing-the-crypto-policies-of-its-enforcement-arm

The inspector general of the U.S. Postal Service is conducting a crypto policy audit for the government agency’s law enforcement arm.

According to a notice published on Tuesday, the U.S Postal Service Office of the Inspector General (USPSOIG) said that it intends “to evaluate the effectiveness of the Postal Inspection Service’s policies and procedures for managing cryptocurrency.” The notice includes a start date of March 8 and an expected report release date sometime in August.

The United States Postal Inspection Service (USPIS) dates back to the 18th century and, as of 2019, had more than 1,200 active agents within its ranks. The service works to prevent the U.S. mail system from being used for illegal purposes. 

The March 23 notice states that USPIS officers “may use cryptocurrency, while undercover, to expose criminal activity and seize this currency as [a] result of their investigations.” At the same time, the IG’s office wants to “evaluate the effectiveness” of current policies and procedures, soliciting feedback from other law enforcement agencies.

The questions include:

“What practices or guidelines do other law enforcement agencies follow for acquiring, managing, and seizing cryptocurrency while investigating criminal or illicit activities?… What risks have you encountered while using cryptocurrency?… What kind of training did you receive prior to using cryptocurrency for investigative purposes?… What unique challenges have you encountered while seizing cryptocurrency during an investigation?”

Editorial credit: Christopher Penler / Shutterstock.com

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

How venture capitalists are adjusting to the brave new world of DeFi

How venture capitalists are adjusting to the brave new world of DeFi

Quick Take Investment in DeFi accounted for 26% of the $3.18 billion that private investors poured into crypto and blockchain projects in the first quarter of 2021. Backing DeFi projects requires venturing into uncharted waters relative to traditional equity...

Acting OCC chief has begun a staff review of crypto-related actions

Acting OCC chief has begun a staff review of crypto-related actions

Under former comptroller Brian Brooks, the Office of the Comptroller of the Currency (OCC) made considerable strides related to cryptocurrency regulation. Now, Acting Comptroller of the Currency Michael Hsu is requesting a staff review of those actions. "My broader...

Pin It on Pinterest

Share This