A special agent with the US Secret Service (USSS) is speaking out against bitcoin and digital currency technology on the grounds that criminal activity is its most compelling use case.
The magazine reports Jarrow "did not hold back" his opinion at the conference, alleging that the majority of digital currency activity is generated by criminals.
In his talks, Jarrow highlighted past examples of illicit services enabled by digital currency, including the now-defunct payment processor Liberty Reserve and black market Silk Road, which he alleged could not have been enabled by companies like PayPal.
"Digital currency exists because people want to be outside that system," he added.
Jarrow was awarded the Secretary's Exceptional Service Award, which honors exceptional leadership or service that improves US homeland security, in 2014.
Hat tip to Buy-Side Technology
Secret Service agent via Shutterstock
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