As Senator Romney has recently been in the news on his criticism of the President as impeachment proceedings, it seems the former Presidential Candidate and Republican Senator from Utah might want to impeach cryptocurrency from the United States based on the threat level it may pose to national security.
During a hearing in the U.S. Senate Committee On Homeland Security And Governmental Affairs, Senators asked leaders from the FBI, Homeland Security, and the National Counterterrorism Center questions on Threats To The Homeland, Senator Mitt Romney (R-UT) raised the prospect of whether the U.S. needed to take action on cryptocurrencies or not worry about them. The FBI took no time in responding how cryptocurrencies are a significant problem that will get bigger and bigger.
WASHINGTON, DC - September 23: Senator Mitt Romney (R-UT) speaks to journalists before votes on the ... [+] Senate floor on Capitol Hill in Washington, DC on Monday September 23, 2019. (Photo by Melina Mara/The Washington Post via Getty Images)
Im not in the Banking Committee. I dont begin to understand how cryptocurrency works. I would think it is more difficult to carry out your work when we cant follow the money because the money is hidden from us and wonder whether there should not be some kind of effort taken in our nation to deal with cryptocurrency.
While the Senator invited all three of the witnesses to respond to his question, FBI Director Wray jumped in to note how big of a problem cryptocurrency already is. The FBI Director stated, Well certainly for us cryptocurrency is already a significant issue and we can project out pretty easily that its 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 too.
FBI Director Wray, while being careful not to provide any policy or regulatory recommendation, noted the issues of cryptocurrencies and how they are used by terrorists is part of a larger issue involved with our enemies increased capabilities in using tech and the ability to process anonymous transactions.
...it is part of a broader trend...in terms of the terrorist threat in terms of our adversaries of all shapes and sizes becoming more facile with technology, in particular various types of technology that anonymize their efforts...
WASHINGTON, DC, UNITED STATES - 2018/06/28: Christopher A. Wray, Director of the Federal Bureau of ... [+] Investigation, at the House Judiciary Committee in the Rayburn Building at the US Capitol. (Photo by Michael Brochstein/SOPA Images/LightRocket via Getty Images)
The FBI Director did note that Were looking at [cryptocurrencies] from an investigative perspective including tools that we have to try to follow the money. He also noted that it is not just cryptocurrency but various types of technologies that, if the U.S. doesnt get its act together, could result in the FBI being walled off by technology from doing their jobs in the future.
Read more:
Senator Romney Considers Action As A Nation On Cryptocurrency Threat To Homeland Security - Forbes
- Crypto()Currency - CryptoCurrency.org - April 26th, 2014 [April 26th, 2014]
- Cryptocurrency - Wikipedia, the free encyclopedia - April 26th, 2014 [April 26th, 2014]
- TNW - Stefan Molyneux - Money, Power and Politics The Cryptocurrency Revolution - Video - April 26th, 2014 [April 26th, 2014]
- How to Set Up a Ripple (CryptoCurrency) Generating System! - Video - April 26th, 2014 [April 26th, 2014]
- Bitcoin / Cryptocurrency - An Extensive FAQ - Video - April 26th, 2014 [April 26th, 2014]
- --- The Great Debate --- Bitcoin vs Altcoin @ The CryptoCurrency Convention 4/9/14 - - Video - April 26th, 2014 [April 26th, 2014]
- Bryce Weiner @ CryptoCurrency Convention 4/9/14 - - Video - April 26th, 2014 [April 26th, 2014]
- Popularcoin @ CryptoCurrency Convention 4/9/14 - Joshua Nold - Video - April 26th, 2014 [April 26th, 2014]
- TimeKoin @ CryptoCurrency Convention 4/9/14 - Michael Brown - Video - April 26th, 2014 [April 26th, 2014]
- Infinitecoin @ CryptoCurrency Convention 4/9/14 - Loring Small - Video - April 26th, 2014 [April 26th, 2014]
- Bitcoin Exchange CryptoRush Loses Millions of BlackCoin Cryptocurrency - Video - April 26th, 2014 [April 26th, 2014]
- Brock Pierce, Entrepreneur "FireSide Chat" @ CryptoCurrency Convention NYC - 4/9/14 - Video - April 26th, 2014 [April 26th, 2014]
- [OFFICIAL SPONSOR] Nick Spanos, Bitcoin Center NYC @ CryptoCurrency Convention 4/9/14 - Video - April 26th, 2014 [April 26th, 2014]
- AuroraCoin @ CryptoCurrency Convention NYC 4/9/14 - David Lio - Video - April 26th, 2014 [April 26th, 2014]
- Dogecoin Founder Speaks on the Future of Cryptocurrency - April 27th, 2014 [April 27th, 2014]
- As Bitcoin Soars in Value, Alternative Cryptocurrencies ... - April 27th, 2014 [April 27th, 2014]
- Florincoin @ CryptoCurrency Convention NYC 4/9/14 - Joe Fiscella - Video - April 27th, 2014 [April 27th, 2014]
- DigiByte @ CryptoCurrency Convention NYC 4/9/14 - Jared Tate - Video - April 27th, 2014 [April 27th, 2014]
- Digitalcoin @ CryptoCurrency Convention NYC 4/9/14 - Andrew Davidson - Video - April 27th, 2014 [April 27th, 2014]
- PotCoin @ CryptoCurrency Convention NYC 4/9/14 - Nick Iversen - Video - April 27th, 2014 [April 27th, 2014]
- ZenithCoin @ CryptoCurrency Convention NYC 4/9/14 - Eddie Corral - Video - April 27th, 2014 [April 27th, 2014]
- BitAngels Co-Founder, David Johnson @ CryptoCurrency Convention NYC 4/9/14 - Video - April 27th, 2014 [April 27th, 2014]
- Australian dogecoin founder speaks on the future of cryptocurrency - April 28th, 2014 [April 28th, 2014]
- Coinnext Cryptocurrency Exchange Coming Soon - Video - April 29th, 2014 [April 29th, 2014]
- Cryptocurrency News Round-Up: MtGox Hearing Begins as Bitcoin gets Bloomberg Endorsement - May 1st, 2014 [May 1st, 2014]
- mTrader.org - Cryptocurrency Mining System - Video - May 1st, 2014 [May 1st, 2014]
- CryptoCurrency - cryptobars commodity Launch! - Video - May 1st, 2014 [May 1st, 2014]
- The Mises View: "Taxing Cryptocurrency" | Jeff Deist - Video - May 2nd, 2014 [May 2nd, 2014]
- Coin Pursuit Launches SliceFeeds Interactive Cryptocurrency Network - May 3rd, 2014 [May 3rd, 2014]
- Cryptocurrency | Ground Zero with Clyde Lewis - May 3rd, 2014 [May 3rd, 2014]
- CS 171 Final Project: Cryptocurrency Visualizations - Video - May 3rd, 2014 [May 3rd, 2014]
- Cryptocurrency Explained The Tech Guy 1046 - Video - May 3rd, 2014 [May 3rd, 2014]
- Know How 74 Cryptocurrency - Video - May 4th, 2014 [May 4th, 2014]
- MIT undergrads will each receive $100 in bitcoin - May 5th, 2014 [May 5th, 2014]
- cryptocurrency - Fortune Finance: Hedge Funds, Markets ... - May 8th, 2014 [May 8th, 2014]
- Bitcoin wins US election panel's approval for political donations - May 9th, 2014 [May 9th, 2014]
- CryptoCurrency of the World Unite! - Video - May 9th, 2014 [May 9th, 2014]
- Major Dogecoin Wallet Hacked, Shut Down - May 13th, 2014 [May 13th, 2014]
- Such hack, much sad: Doge Vault reportedly loses $56,000 in heist - May 13th, 2014 [May 13th, 2014]
- BBT Presents: Ode to Cryptocurrency - Video - May 13th, 2014 [May 13th, 2014]
- Scryptify Cryptocurrency Video - Crypto Currency Exchanges - Video - May 13th, 2014 [May 13th, 2014]
- AMD cuts Radeon R9 280 price as inflation woes die down - May 15th, 2014 [May 15th, 2014]
- The Cryptocurrency Certification Consortium - Video - May 15th, 2014 [May 15th, 2014]
- Bitpagar Cryptocurrency - Video - May 16th, 2014 [May 16th, 2014]
- TagPro - Cryptocurrency Juke Session w/ LTB & Counterpary - Video - May 16th, 2014 [May 16th, 2014]
- How to Mine Cryptocurrency Safely - Video - May 16th, 2014 [May 16th, 2014]
- Bunnycoin - Innovative New Cryptocurrency - Video - May 16th, 2014 [May 16th, 2014]
- Jan Irvin on Learning, Statism, Culture, Cryptocurrency and Voluntarism -- Potent News Podcast #1 - Video - May 16th, 2014 [May 16th, 2014]
- Nxt cryptocurrency platform: Proof of Stake mining system - Video - May 18th, 2014 [May 18th, 2014]
- Cryptocurrency Round-Up: Darkcoin Rise Continues; Dogecoin Saved My Life & Bitcoin Explainer Videos - May 19th, 2014 [May 19th, 2014]
- Givecoin.info Announces Partnership with Do A Bit of Good: World's First Charitable Mining Screensaver - May 21st, 2014 [May 21st, 2014]
- Cryptocurrency: Get Mining! - Video - May 22nd, 2014 [May 22nd, 2014]
- Violincoin - The first cryptocurrency for musician - - Video - May 22nd, 2014 [May 22nd, 2014]
- Trollcoin - The Fun Cryptocurrency! - Video - May 22nd, 2014 [May 22nd, 2014]
- Cryptocurrency and Nonprofits with Eric Nakagawa - Video - May 23rd, 2014 [May 23rd, 2014]
- The Cryptocurrency Store - Video - May 23rd, 2014 [May 23rd, 2014]
- The Cryptocurrency Store (Spanish/Espagnol) - Video - May 23rd, 2014 [May 23rd, 2014]
- How To Trade CryptoCurrency: Sign up to a safe and reliable exchange for trading CryptoCurrency - Video - May 23rd, 2014 [May 23rd, 2014]
- UT students to launch cryptocurrency exchange - May 24th, 2014 [May 24th, 2014]
- Videoconferencia Cryptocurrency 201243946 - Video - May 27th, 2014 [May 27th, 2014]
- VideoCharla Jesus Ramos Cryptocurrency - Video - May 27th, 2014 [May 27th, 2014]
- Cryptocurrency Round-Up: Bitcoin Pioneer Dies and Digital Currency's Status in Australia - August 31st, 2014 [August 31st, 2014]
- Bitcoin enthusiasts discuss the cryptocurrency - Video - August 31st, 2014 [August 31st, 2014]
- Make Fast 1.0 up to 10.00 BTC or Any Cryptocurrency REAL CASH - Video - August 31st, 2014 [August 31st, 2014]
- Halcyon cryptocurrency - Video - August 31st, 2014 [August 31st, 2014]
- Selling products / services / fiat money for cryptocurrency - Coinkite PoS Terminal - Video - August 31st, 2014 [August 31st, 2014]
- Selling cryptocurrency to customers - Coinkite PoS Terminal - Video - August 31st, 2014 [August 31st, 2014]
- Cryptocurrency Made Simple - A Plain English Guide to Bitcoins - September 8th, 2014 [September 8th, 2014]
- PotatoCoin - The cryptocurrency for the third world - Video - September 8th, 2014 [September 8th, 2014]
- How To Trade One Kind Of Cryptocurrency For A Different Kind Of Cryptocurrency - Video - September 8th, 2014 [September 8th, 2014]
- How To Fund Your Bleutrade Cryptocurrency Trading Account - Video - September 8th, 2014 [September 8th, 2014]
- How To Open An Account At Bleutrade.com Cryptocurrency Exchange - Video - September 8th, 2014 [September 8th, 2014]
- Cryptocurrency Round-Up: Apple Pay Boosts Bitcoin, Nakamoto Negotiates With Hacker - September 11th, 2014 [September 11th, 2014]
- Qoinpro Cryptocurrency Faucet ok - Video - September 12th, 2014 [September 12th, 2014]
- Weekly Roundup - CEX.IO - Multi-Functional cryptocurrency exchange - Video - September 12th, 2014 [September 12th, 2014]
- TCR #27: Cryptocurrency growth, 9/11 Anniversary, CDC Scandal, Face Your Fears - Video - September 12th, 2014 [September 12th, 2014]
- VanosEnigmA 011 Bitcoin-Comedy BitcoinDog CryptoCurrency-Cat Naughty - Video - September 15th, 2014 [September 15th, 2014]
- WikiLeaks Avoided Bitcoin to Prevent Government 'Destroying' Cryptocurrency - September 16th, 2014 [September 16th, 2014]
- LXC Coin crowdfunds in challenge to Bitcoin - September 16th, 2014 [September 16th, 2014]
- Why Bitcoin Is Poised To Win Big In Las Vegas - September 19th, 2014 [September 19th, 2014]