Hello Everyone! I am here with another fresh news that has flooded over the crypto market. Recently, the FBI (Federal Bureau of Investigation) has given a statement on cryptocurrency concern: ‘Bitcoin concern is getting bigger and bigger.’
In a recent U.S. Senate Committee on Homeland Security And Governmental Affairs hearing, Senator Mitt Romney expressed concerns about Bitcoin’s potential as a threat to national security. Federal Bureau of Investigation (FBI) Director Christopher Wray replied that cryptocurrency is a concern that’s “going to become a bigger and bigger one.”
Mitt’s Concern on Crypto: ‘Bitcoin concern is getting bigger and bigger’
As more nations begin to experiment with or talk about the development of their own central bank digital currencies (CBDCs), and regulation of crypto in general, the topic of truly permissionless crypto like bitcoin is becoming hotly debated. According to a report from Forbes, the Republican senator from Utah was admittedly in the dark about the nature of cryptocurrencies, but nonetheless concerned at the hearing Tuesday. Addressing Homeland Security, National Counterterrorism Center and FBI leaders, Romney stated:
“I’m not in the Banking Committee. I don’t begin to understand how cryptocurrency works. I would think it is more difficult to carry out your work when we can’t follow the money because the money is hidden from us…”
The FBI Director noted that the agency views crypto “from an investigative perspective including tools that we have to try to follow the money.” Though citing the increasing efficiency with which criminals are able to utilize emergent tech and anonymizing tools. Wray was nonetheless reticent to commit to any statements about proposed regulations saying, “Well certainly for us cryptocurrency is already a significant issue and we can project out pretty easily that it’s going to become a bigger and bigger one. Whether or not that is the subject of some kind of regulation as the response is harder for me to speak to.”
Writer, researcher, and analyst on cryptocurrency and blockchain technology at L&P Digitech Pvt. Ltd. Also managing the content with SEO at this current company. Keen interest to know more about new technologies related to the crypto world and blockchain technology. Completed Masters in Computer Application (MCA) and holds Post Graduate Diploma in Instructional Designing with sound knowledge in Articulate3. Out of all, love to travel, listen to music, and to eat also.