The US Treasury called cryptocurrencies the next frontier in the fight against terrorism

U.S. Deputy Treasury Secretary Segal Mandelker said cryptocurrencies could be the next frontier in the fight against terrorism.

Today, Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker addressed the 19th Annual International Conference on Counterterrorism. https://t.co/YHDAbFRwd5

– Treasury Department (@USTreasury) September 11, 2019

“Terrorist organizations and their supporters are constantly in search of new ways to attract and transfer funds out of sight of law enforcement agencies. Most prefer the traditional financial system, but without appropriate security guarantees, cryptocurrencies may become the next frontier , ”the official said.

Photo ANDREW CABALLERO-REYNOLDS / AFP

Mandelker promised that the United States and partners will do everything necessary to ensure that networks and fintech projects that do not comply with legal standards cease to exist.

Recall, analysts at the Middle East Media Research Institute found that the terrorist organizations ISIS, al-Qaeda and Hamas (not banned in Russia) receive partial funding in cryptocurrencies.

Previously, the financial advisory company Financial Integrity Network (FIN) recommended that the US Congress regulate the activities of cryptocurrency companies in accordance with the Bank Secrecy Act.

Also, FIN proposed to oblige miners to control user access to public blockchains and check the data of issuers, exchanges and custodians they serve.

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