TLDR Summary:
A survey conducted by TRM Labs reveals that 40% of offenses investigated by law enforcement agencies involved cryptocurrency, a number expected to rise to 51% by 2027. While more than half of federal agency respondents currently use blockchain analytics tools, only 11% of state agencies surveyed do so. The survey also found that 61% of respondents feel they lack sufficient technology to combat crypto criminals, and 99% reported needing more training. The report emphasizes the need for investigators and prosecutors to have the necessary tools and training to investigate the blockchain. The survey also highlights the obstacles of lack of investigators, expertise, and funding in fighting crypto crime.
Important Key points:
1. According to a survey commissioned by TRM Labs, 40% of offenses investigated by law enforcement agencies involved cryptocurrency, and this number is expected to rise to 51% by 2027.
2. While more than half of federal agency respondents currently use blockchain analytics tools, only 11% of state agencies surveyed are doing so.
3. The lack of technology, training, and funding are identified as the top obstacles for law enforcement to effectively combat crypto-related crime.