U. S. Attorney General Eric Holder Warns of Criminal Attraction to Virtual Currencies
United States Attorney General Eric Holder has warned of potential criminal attraction to bitcoin and other virtual currencies, according to The Wall Street Journal (paywall). "More than ever before, the department's law-enforcement work today must contend with new and emerging technology, including virtual currencies such as bitcoin," Holder was quoted as saying to the House Judiciary Committee at a hearing on Tuesday. "Virtual currencies can pose challenges for law enforcement given the appeal they have among those seeking to conceal illegal activity." At the center of this "illegal....
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On April 8 Attorney General Eric Holder made a public address to US lawmakers stating that Bitcoin, as well as other currencies derived from it, is a provocative issue for law enforcement agencies, largely because it can be used to “conceal illegal activity”. Holder made this announcement before the House Judiciary Committee on Tuesday. According to his report the Department of Justice has united with financial regulators to develop a method to withstand users committing illegal actions using Bitcoin. Listed accusations include drug dealing, purchase of weapons and human trafficking.....
US Attorney General Eric Holder believes bitcoin criminals pose a new set of challenges for law enforcement. During his testimony this morning before the House Judiciary Committee Holder said the US Justice Department is keeping track of bitcoin-related developments. Of course, this does not mean that the Justice Department is treating all bitcoin transactions as suspect. Holder stressed that the department is working with financial regulators in an effort to weed out the bad apples. Bitcoin can pose challenges for law enforcement. Holder's interest in bitcoin is focused solely on "bad....
New York Attorney General Letitia James has issued a warning about investing in cryptocurrency. She said the crypto market is “extremely unpredictable” and “unstable,” noting that the market “reached record lows” last month.
NY Attorney General Warns About Cryptocurrency
New York Attorney General Letitia James issued a warning about investing in cryptocurrencies Thursday. The official Twitter account of the New York Attorney General’s Office tweeted:
The cryptocurrency market is extremely unpredictable. Just last month, the....
This week, the Commonwealth Virtual Currencies Working Group made up of Australia, Barbados, Kenya, Nigeria, Singapore and Tonga, together with the International Monetary Fund and World Bank, concluded a three-day conference in London with a consensus: "Member states should consider the applicability of their existing legal frameworks to virtual currencies and where appropriate they should consider adapting them or enacting new legislation to regulate virtual currencies." The group has come up with the consensus because it recognizes the benefits and the disruptive nature of bitcoin and....
A spokesman for the Justice Department’s Criminal Division told a Senate subcommittee hearing that virtual currencies such as Bitcoin are vulnerable to organized crime. “We have seen increasing use of such currencies by drug dealers, traffickers of child pornography, and perpetrators of large-scale fraud schemes,” Acting Assistant Attorney General Mythili Raman told Congress. The anonymity and untraceability of digital currencies makes them ripe for crime, making law enforcement investigations significantly harder. What’s more, the currencies have no controls in place to stop illegal....