U.S. law enforcement agencies deploy "cryptocurrency intelligence plan" in homeland security investigations involving crypto

According to Coindesk, the U.S. Immigration and Customs Enforcement (ICE) recently disclosed that the "Cryptocurrency Intelligence Initiative" (CIP) is deployed in every case involving cryptographic Homeland Security Investigations (HSI). Al Giangregorio, department head of the National Bulk Cash Smuggling Center (BCSC), revealed in an email the mysterious Intel plan first mentioned in ICE's most recent fiscal year budget proposal for 2021. He did not explain exactly what the "Cryptocurrency Intelligence Initiative" (CIP) is or how it works, but stated that it can help HSI agents whenever cryptocurrencies are involved. Giangregorio said, "CIP supports any HSI investigation involving virtual currency or blockchain technology." When the BCSC was established in 2009, cryptocurrencies were not a legitimate threat. However, in the years since, encryption has evolved into a more prominent form of crime, prompting many federal law enforcement agencies to invest hundreds of thousands or even millions of dollars in investigative tools in the private sector. Giangregorio said the growing shift to digital currencies has also prompted HSI's anti-cash smuggling experts to establish internal government programs.