The cryptocurrency exchange BTCX recently helped the Swedish Police Authority get educated regarding cryptocurrency crime. Moreover, this comes as authorities around the world seek to better understand crypto crime.
BTCX visited the Swedish National Centre for Fraud Prevention
On January 16th, three employees from BTCX visited the national headquarters of the Swedish Police Authority. Specifically, this came during the monthly meeting of the National Centre for Fraud Prevention.
A number of different regional police units were at the event. Moreover, they get to hear about Bitcoin and blockchain crime directly from BTCX. Being a cryptocurrency exchange, BTCX works with cryptocurrency compliance, which David Söderberg at BTCX explained for the Police Authority.
This concept involves dealing with the potential for fraud and money laundering. What’s more, this area has been heating up during the past few years. Just like any new technology, crypto comes with both opportunities and risks for malicious use.
Specifically, governments and regulators around the world are currently looking to crack down on “crypto crime”. The risk that some of the illegal activities that have traditionally been done with fiat currencies could also be done with cryptocurrencies is hard to avoid.
Crypto crime is becoming more relevant as crypto becomes more prevalent
Keeping this in mind, police authorities around the world are looking how to minimize these risks. Furthermore, the advent and growing awareness of cryptocurrencies mean that these issues could become more prevalent.
It was with this in mind that BTCX came to the Swedish Police’s National Centre for Fraud Prevention to talk about the underlying technology and alternatives for analysis.
Allowing a company that operates in the crypto and blockchain industry to educate police gives direct access to industry know-how. As such, police can likely get a more clear view of the potential implications of cryptocurrencies in crime.
Consequently, police can also ask questions to those with the knowledge to answer them. This means that police can get a real picture of blockchain and crypto’s role in crime. Moreover, this could go long way towards disproving some of the common misconceptions of crypto crime.
BTCX helps Swedish Police Authority understand Bitcoin and blockchain crime
Oskar Söderström at BTCX went further in-depth regarding BTCX’s ongoing work with authorities to combat crypto crime.
“We’re very happy with how our cooperation with the Police Authority has worked through the years. BTCX is working hard to make sure that our exchange platform is free from any sort of crime and we intervene as soon as we suspect any irregularities.”
“It is an essential part of our work to make Bitcoin more accessible and usable for the entire Swedish people. All the authorities interested in similar education are very welcome to contact us,” Christoffer De Geer, COO at BTCX, noted.
BTCX was recently in the news for its move for an IPO in the first half of 2020. Moreover, this latest move got praise from other actors in the industry. For example, Ivan on Tech commented on the matter:
”BTCX is one of the most important crypto companies in Northern Europe. They are doing a lot for the community and the industry – the better the regulators and law enforcement understand crypto the better and more adequate regulation we will have for crypto.”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.