FBI is working on a “cryptocurrency solution”

FBI is working on a “cryptocurrency solution”

November 10, 2019 by cryptorolling.com
On November 5, during the Senate Committee on National Security and Government Affairs hearings, lawmakers asked questions to the heads of the Federal Bureau of Investigation and the Department of Homeland Security about counter-terrorism, the impact of foreigners on elections, border security, and cryptocurrencies.

Mitt Romney, a former presidential candidate and Republican senator from Utah, asked intelligence officers how they assess the threats posed by the cryptocurrencies and what steps they are taking to address these problems. He said:

I’m not a member of the Banking Committee, and I don’t understand how cryptocurrencies work. However, I think it will be much harder for you to do your job if you can’t track the money. In this regard, I wonder if our country should make any efforts to address the problem of cryptocurrencies.

Answering the question, FBI Director Ray said that the agency is already working on these issues. He added:

Cryptocurrencies are a serious problem for us, and we anticipate that this problem will grow more and more. At the moment, it’s hard for me to know if any regulations will help me solve it.

In addition, Ray said that the FBI is already monitoring cryptocurrency transactions using “tools that are available”. The head of the Bureau of Investigation also said that if the U.S. doesn’t keep up with the new technology, it could soon be “isolated.

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