FAST FIVE: Bitcoin Battered Below $9k After FBI Calls Crypto "Significant Problem That Will Get Bigger And Bigger"

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5, during the hearing before the US Senate Committee On Homeland Security And Governmental Affairs, senators asked leaders from the FBI, Department of Homeland Security and the National Counterterrorism Center questions on topics including counterterrorism efforts, foreign influence in elections, cybersecurity measures, border security, and of course, cryptocurrencies.

FBI might find itself walled off by new technology Former Presidential Candidate and Republican Senator from Utah, Mitt Romney, asked the intelligence officers whether the US should not take some kind of effort in dealing with cryptocurrencies and its challenges they present to law enforcement's anti-terrorist activities.

I don't begin to understand how cryptocurrency works.

He stated: “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.” Wray concluded his answer by saying that the FBI is already keeping an eye on cryptocurrencies, using “tools that we have to try to follow the money.” The FBI director also said that if the US doesn't keep up with new technologies, it will soon find itself being “walled off.” Australian Minister says terrorists use crypto to fund deadly missions Yesterday, during a counter-terror conference in Melbourne, the Australian Minister of Home Affairs Peter Dutton warned that terrorists are exploiting cryptocurrencies to “fund their deadly missions.” Dutton said that the anonymity of cryptocurrencies allows extremists to avoid scrutiny and that the increased use of digital currencies, stored-value cards, online payment systems and crowd-funding platforms may provide new channels through which to finance terrorism.

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