- The IRS has set its eyes on Telegram.
- Cyber crime unit says the app offers full privacy which could offer a space for illicit transactions.
- Most countries are only now beginning to write-up new regulations for crypto.
The Internal Services Revenue (IRS) is on the prowl on the Telegram app. The entity is suspicious of secretive Telegram chats being an easy option for criminals to launder digital money.
The instant messaging app promises its users complete privacy with the presence of total end-to-end encryption on their messages. This in turn makes the IRS vary of the presence of possible fraudulent activities on the platform.
Special IRS agent Chris Janczewski from the Cyber Crimes Unit says that the IRS will keep a close eye on the app. The total encryption feature allows users to make instant peer-to-peer (P2P) transactions. These could easily be the trading of shifty funds or stolen assets.
Crypto, including Bitcoin, have been known for conducting fraudulent activities. Most countri...
This article was first published on coinquora.com