The popularity of the digital currency Bitcoin is exploding. Today’s price spiked over $600, nearly double what is was just over a week ago. It seems the U.S. government now wants into the party. Today several federal agencies weighed in on the decentralized currency. While most agencies acknowledged its legitimate uses, the Department of Homeland Security referred to Bitcoin as an emerging threat. In a letter to the Senate Committee on Homeland Security and Governmental Affairs, DHS wrote that they have “been actively investigating the emerging threat and criminal exploitation of virtual currency systems that further transnational criminal operations.” DHS blamed “anonymity in cyberspace” and called for an aggressive posture to deal with Bitcoin and other crypto-currencies. “The anonymity of cyberspace affords a unique opportunity for criminal organizations to launder huge sums of money undetected,” they wrote. “With the advent of virtual currencies and the ease with which financial transactions can be exploited by criminal organizations, DHS has recognized the need for an aggressive posture toward this evolving trend.”
Posted on: Thu, 28 Nov 2013 18:07:41 +0000
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