US Senate Reviews Bill on Terror Threat Analysis Involving Cryptocurrencies:
The meteoric increase of interests in cryptocurrencies has led to huge investments in the digital money market. Investors and companies are flooding into the market, and there is no indication that this will subside in the foreseeable future. The increased interest also leads to further investigations, with the United States Congress also involved.
These investigations have arisen on suspicions that cryptocurrencies have been used to fund illegal activities. It has been suspected that the ISIS terrorist network used bitcoin to fund its activities. Just last year, Zombie Shahnaz, a US resident born in Pakistan was arrested by authorities trying to board a flight for Pakistan. Authorities said Shahnaz obtained fraudulent monies for the purchase of bitcoin and other cryptocurrencies which she used to make a number of strange wire transfers to vague entities and individuals overseas. “These transactions were motivated to benefit ISIS, which the defendant ultimately sought to join in Syria,” according to court documents.
In May 2017, two US representatives Kathleen Rice and Derek Kilmer presented HR2433, a bill designed to encourage the Department of Homeland Security to co-ordinate threat analysis on digital currencies with other federal partners. Specifically, the bill required that the DHS Office of Intelligence and Analysis
The meteoric increase of interests in cryptocurrencies has led to huge investments in the digital money market. Investors and companies are flooding into the market, and there is no indication that this will subside in the foreseeable future. The increased interest also leads to further investigations, with the United States Congress also involved.
These investigations have arisen on suspicions that cryptocurrencies have been used to fund illegal activities. It has been suspected that the ISIS terrorist network used bitcoin to fund its activities. Just last year, Zombie Shahnaz, a US resident born in Pakistan was arrested by authorities trying to board a flight for Pakistan. Authorities said Shahnaz obtained fraudulent monies for the purchase of bitcoin and other cryptocurrencies which she used to make a number of strange wire transfers to vague entities and individuals overseas. “These transactions were motivated to benefit ISIS, which the defendant ultimately sought to join in Syria,” according to court documents.
In May 2017, two US representatives Kathleen Rice and Derek Kilmer presented HR2433, a bill designed to encourage the Department of Homeland Security to co-ordinate threat analysis on digital currencies with other federal partners. Specifically, the bill required that the DHS Office of Intelligence and Analysis
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