Christopher Wray believes cryptocurrency is a major issue the law enforcement agency has been facing, and will only get bigger. He is the director of the Federal Bureau of Investigation. FBI says cryptocurrency is a major issue for the agency.
Wray answered questions by Mitt Romney, the US Senator, in front of the U.S. Senate Homeland Security and Governmental Affairs Committee about:
- law implementation
- terrorism prevention
“We are looking at it from an investigative perspective, including tools that we have to follow the money even in this new world that we’re living in.”
Showing his support to Romney’s questions regarding the financing of terrorism, he said that America’s adversaries are becoming “more facile with technology and particular various types of technology that anonymize their efforts.”
Claiming that encryption is influencing cryptocurrency and flourishing technology like an instant communication system, he stated,
“Whether its cryptocurrency, whether it’s default encryption on devices and messaging platforms; we are moving as a country and world in a direction where if we don’t get our act together money, people, communication, evidence, facts, all the bread and butter for all of us to do our work will be essentially walled off from the men and women we represent.”
FBI says cryptocurrency is a major issue for the agency. Last year, the FBI reported it had approximately 130 cases under inspection that involved cryptocurrency, from the trade of humans to malicious software. In May 2019, the FBI seized operations of the DeepDotWeb website. DeepDotWeb is a darknet marketplace that requested crypto for services.