On May 15, 2023, the US or US Secret Service's San Francisco and Bay Area Regional Enforcement Allied Computer Team (REACT) will be organizing an ask me anything (AMA) session in Reddit. AMA sessions are online events hosted on social media platforms to discuss and answer queries from users.

The host of the AMA is the moderators of Reddit’s popular cryptocurrency-focused forum known as CryptoCurrency. This subreddit has a following of over six million users, making it a popular point of engagement for cryptocurrency lovers worldwide.

REACT acknowledged the increasing importance of cryptocurrencies in the global financial infrastructure and thus plans to use this event as an opportunity to educate crypto users and keep them safe. They will be sharing resources and information during the AMA on how one can best protect their money in the cryptosphere.

REACT is responsible for investigating and disrupting high-tech criminal activities, such as the 'pig butchering' scam that is immensely popular in the United States. This scam requires the fraudster to gain trust of unsuspecting customers before taking advantage of their immutable nature of cryptocurrency transfers to con money.

Based on information from the FBI, Americans lost more than $420 million to pig butchering scams in 2021 alone.

This AMA session follows the various initiatives set forth by US agencies to hold crypto companies and exchanges accountable for their operations. For instance, Binance and Kraken were taken to task for breaching US regulations after multiple investigations. Secret Service personnel have even gone further and looked into the use of privacy-centric coins such as Monero for money laundering.

This bid for self-regulation of the crypto marketplace has been fortified by the US Chamber of Commerce, who denounced the Securities and Exchange Commission (SEC) for their heavy-handed approach to handling cryptocurrency-related businesses.

Therefore, this AMA session is an important step in allowing the cryptocurrency community to be better equipped in keeping their money secure, while logically regulating an ever-growing field.



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