[Bitcoin Now] US Considers Hacker Tracking Amid Cryptocurrency Regulations

Joint Public-Private TF Team Demands Special Cryptocurrency Seizure Unit in Ministry of Justice
Ethereum Shows Strength... European Investment Bank Issues Ethereum-Based Bonds

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin is hovering around the 63 million KRW mark. Meanwhile, U.S. government agencies are reportedly considering measures to track hackers through cryptocurrency regulations.

According to the domestic cryptocurrency exchange Upbit, as of 2:22 PM on the 30th, Bitcoin recorded 63.92 million KRW, up 0.17% from the previous day. After rising from the 59 million KRW range on the 26th to the 64 million KRW range, there has been little significant change for four consecutive days.

It has been revealed that U.S. investigative and security agencies are reviewing cryptocurrency regulations to trace the source of hackers' funds. On the 28th (local time), U.S. economic media CNBC reported that a U.S. public-private task force (TF) created to prevent hackers' ransomware attacks is focusing on eliminating the anonymity of cryptocurrency transactions. The TF includes government agencies such as the Federal Bureau of Investigation (FBI) and the Department of Homeland Security, as well as private security research institutes. The TF has called for stronger cryptocurrency regulations and reportedly requested the U.S. Department of Justice to establish a special team dedicated to cryptocurrency seizures. CNBC analyzed that if the government implements the measures proposed by the TF, the cryptocurrency market could stagnate.

The reason the U.S. government is attempting to regulate cryptocurrency through the TF is that anonymity often leads to illegal activities. Cryptocurrencies have been criticized for being easily used in crimes because transactions can be conducted without identity or personal information verification. Earlier, on January 19, Treasury Secretary Janet Yellen pointed out at a U.S. Senate hearing that "cryptocurrencies are mainly used for illegal purposes."

Meanwhile, amid the cryptocurrency market's slowdown, Ethereum is showing strength. Ethereum reached an all-time high of 3.32 million KRW at 9:51 PM on the 29th.

This appears to be a positive factor as national financial institutions recognize Ethereum. According to U.S. economic media Bloomberg on the 27th, the European Investment Bank announced plans to issue a two-year maturity bond worth 100 million euros (approximately 134.6 billion KRW) based on Ethereum's blockchain network. This bond will be managed by major U.S. investment bank Goldman Sachs and Spain's major bank Santander Group. Professor Carol Alexander of the Business School at the University of Sussex in the UK analyzed, "From the perspective of individual investors, Bitcoin is no longer attractive," and added, "Institutional investors' demand for altcoins such as Ethereum will continue."