The US Federal Trade Commission (FTC) has created a Blockchain Working Group to identify and target fraudulent schemes which affect the FTC’s consumer protection and competition missions, according to a blog post published on the agency’s website March 16.
According to FTC Acting Chief Technologist Neil Chilson, the internal Blockchain Working Group intends to combine expertise and practices on one platform which will coordinate efforts in
countering fraud in Blockchain and cryptocurrency-related fields. The group has “at least” three goals; building “FTC staff expertise in cryptocurrency and blockchain technology through resource
sharing and by hosting outside experts”, assistance in “internal communication and external coordination on enforcement actions”, and providing a forum for discussing potential influences on
the FTC’s objectives and how to respond them.