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FBI Director: "Crypto-currencies represent a significant and growing threat»

FBI Director: “Crypto-currencies represent a significant and growing threat»

FBI Director Christopher Ray believes that cryptocurrencies are a significant threat to US national security, which will only grow over time.

Recently, the US Senate Committee on homeland security and public Affairs held a meeting, during which congressmen asked their questions to the heads of the FBI, the Department of homeland security and the National counterterrorism center about threats to the country’s internal security. Senator MITT Romney asked about the current situation of cryptocurrencies and their impact:

“I’m starting to understand how cryptocurrency works. It seems to me that it will be more difficult for you to do your job if we can’t keep track of the money that will be hidden from us. So I decided to ask if we should take some measures to combat cryptocurrencies.”

To which I received a response from ray:

“At the moment, cryptocurrencies pose a significant threat. We can’t accurately predict their impact, but it will only increase over time,” he said.

Ray considered it right not to give any advice on the regulation of crypto assets, but noted that they can be used by terrorists or be part of a more complex mechanism for the use of advanced technologies by the enemies of the United States.

“Cryptocurrencies are only part of a new trend from the terrorist threat. Such technologies make life easier for our enemies, especially those that allow us to conduct activities anonymously,” ray also said.

The FBI Director noted that if lawmakers do not take appropriate measures as soon as possible, it is likely that the Agency will not be able to perform its functions in the future.

“We look at cryptocurrencies in terms of investigations, including tools that we should test to track cash flows,” he added.

In September last year, Yaya Fanusie, Research Director at The Foundation for the defense of democracies, noted that cryptocurrencies are not in significant demand among terrorists. According to him, traditional money is still the undisputed leader in this regard.