Virtual currency groups form alliance with law enforcement
WASHINGTON- The Obama administration is joining with private companies to train law enforcement officials about the virtual currency Bitcoin and how to fight crime arising from Bitcoin's use.
The partnership - called Blockchain Alliance - aims to educate investigators on the ins and outs of the technology. The alliance also is intended to enhance the reputation of a digital currency that's been associated with high-profile crime even as it's slowly gained mainstream acceptance.
The alliance includes the Departments of Justice and Homeland Security and private companies involved in virtual currency.
The name comes from the term "blockchain," which refers to the ledger on which Bitcoin transactions are recorded.
Former Justice Department official Jason Weinstein is the alliance's director. He says he envisions the project as "one-stop shopping" resource for law enforcement.