Pentagon Launches Effort To Assess Crypto's Threat To National Security

The military's innovation office is launching a sweeping review of cryptocurrencies to assess threats to national security and law enforcement posed by the rise of digital assets, the Washington Post reported Friday. From the report: The Defense Advanced Research Projects Agency -- better known as DARPA, the office that developed the earliest technology undergirding the internet -- has hired crypto intelligence firm Inca Digital to conduct the year-long project. The company will develop tools that give the Pentagon a granular view of crypto markets' inner workings, in part to help authorities crack down on illicit uses of digital assets. "The program underway here involves mapping out the cryptocurrency universe in some detail," Mark Flood, a program manager with the agency, said in an interview with The Washington Post. Beyond fighting illicit finance, the office aims to use the data for insights into dynamics shaping traditional financial markets, where detailed information is harder to gather. The deal is the latest evidence that federal agencies are ramping up efforts to thwart rogue regimes, terrorists and other criminal actors using crypto to fund their operations.

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