Tracking bitcoin criminals is tough, but not impossible

By James Langford

Published February 20, 2018 5:01am ET

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Tracking bitcoin criminals is tough, but not impossible — In this 2014 photo, Bitcoin logos are displayed at the Inside Bitcoins conference and trade show in New York. Because of how cryptocurrencies like Bitcoin are mined, they have unique digital identities. And that design is something law enforcement and regulators can exploit to identify people using cryptocurrencies to hide illegal activity. (AP Photo/Mark Lennihan, File) | Mark Lennihan

It’s true that what makes cryptocurrencies alluring in the underworld is their anonymity. But that coin, whether it’s bitcoin, ethereum, or litecoin, has another side.

Each of them is mined (or minted, if you will) through blockchain, a type of secure cyber ledger accessible to multiple parties across an array of networks.

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Bitcoin China Cryptocurrency Internet James Langford JPMorgan Police and Law Enforcement Regulations SEC Senate Banking Committee Steven Mnuchin