min to read

2019-09-14 17:31:29




News

U.S. Treasury names cryptocurrencies as next frontier in fight against terrorism

Cryptocurrencies could be the next frontier

min to read

2019-09-14 17:31:29

U.S. Deputy Treasury Secretary Sigal Mandelker said that cryptocurrencies could be the next frontier in the fight against terrorism.

U.S. Deputy Treasury Secretary Sigal Mandelker said that cryptocurrencies could be the next frontier in the fight against terrorism.

 

 

"Terrorist organizations and their supporters and sympathizers are also constantly looking for ways to raise and transfer funds without detection or tracking by law enforcement. Most of them prefer the traditional financial system, but without the appropriate security guarantees cryptocurrencies can become the next frontier" - the official said.

 


 

 

Mandelker promised that the U.S. and partners would do everything necessary to ensure that networks and fintech projects that do not comply with the law cease to exist.

 

It should be mentioned, that analysts of the Institute for Media Research of the Middle East found out that terrorist organizations ISIS, Al-Qaeda and Hamas (not banned in Russia) partially receive funding in cryptocurrencies.

 

Previously, the strategic consulting company Financial Integrity Network (FIN) recommended to the U.S. Congress to regulate the activities of cryptocurrency companies in accordance with the Bank Secrecy Act.

 

The FIN also proposed to oblige miners to control users' access to public blockchains and to check the data of issuers, exchanges and castodians, which they serve.

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