Federal Bureau of Investigation Director Christopher Wray says cryptocurrency is a "Significant issue" that is likely to become a "Bigger and bigger" problem for the law enforcement agency.
"We are looking at it from an investigative perspective, including tools that we have to follow the money even in this new world that we're living in."
Wray supported Romney's line of questioning concerning terrorist financing, saying that U.S. adversaries are becoming "More facile with technology and particular various types of technology that anonymize their efforts."
"Whether its cryptocurrency, whether it's default encryption on devices and messaging platforms; we are moving as a country and world in a direction where if we don't get our act together money, people, communication, evidence, facts, all the bread and butter for all of us to do our work will be essentially walled off from the men and women we represent."
In 2018, the FBI said it had an estimated 130 cases involving crypto under investigation, from human trafficking to ransomware.
This May, the FBI shut down DeepDotWeb, a dark web market place which solicited some services in cryptocurrency.
Christopher Wray image and video via C-SPAN..
FBI Director: Cryptocurrency Is 'Significant Issue' for Law Enforcement
Published on Nov 8, 2019
by Coindesk | Published on Coinage
BTSE CEO talks benefits of a crypto "All In One" Order Book and his predictions for 2020 and beyond
CryptoSlate recently had the opportunity to chat with Jonathan Leong, the CEO and co-founder of cryptocurrency derivatives exchange BTSE. BTSE was recently in the news for announcing it will move its operations from Dubai to the British Virgin Islands because of ongoing regulatory uncertainty.
Beware of the "Raccoon" malware trying to steal your crypto, all web browsers are affected
It's called Raccoon malware and it's even peskier than the brown-and-white critters causing havoc in your backyard.
Compound Extends DeFi Ethos to Itself, Launches Governance Token
Decentralized finance platform Compound is going ahead and decentralizing itself.
Software Ate the World, Here's How It Eats Finance
Unlike the examples above, financial services can be a much more difficult beast.