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Christopher Wray

FBI: Crypto Is ‘Significant Issue’ for Law Enforcement

November 8, 2019 at 2:57 PM | By Jit Sutradhar News

Federal Bureau of Investigation Director Christopher Wray said cryptocurrency is “a significant problem” that may be “bigger and bigger” problem for law enforcement agencies.

Speaking ahead of the US Senate Homeland Security and Governmental Affairs Committee on Tuesday, Wray answered questions from US Senator Mitt Romney (R-UT) on cryptocurrency, enforcement and prevention of terrorism, said:

“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.”

Wray supported Romney line questioning about terrorist financing, said that the US enemy to be “more fluent with technology and various types of specific technologies anonymize their efforts.”

This is not the only crypto, however. Wray noted encryption touches every aspect of emerging technologies such as instant communication:

“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. “

In 2018, the FBI said it had an estimated 130 cases involving crypto in the investigation, from human trafficking to ransomware. And, in May, the FBI shut DeepDotWeb, dark web market place which prompted some services in cryptocurrency.

See the relevant quote from the hearing below:

Christopher Wray image and video via C-SPAN

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