US Congress to Announce Study on Virtual Currency Link to Terrorism Today
A US Congressional subcommittee is developing a bill to study the use of digital currencies by terrorists, CoinDesk has learned.
May 16, 2017 at 1:40 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/K3LMUCK72FDI3JQF2VHNS7QG7A.jpg)
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UPDATE (16th May 16:02 BST): This article has been updated with a copy of the proposed bill.
A US Congressional subcommittee is developing a bill to study the use of digital currencies by terrorists, CoinDesk has learned.
The bill, known as the "Homeland Security Assessment of Terrorists Use of Virtual Currencies Act", is set to be marked up on Thursday by the House Subcommittee on Counterterrorism and Intelligence, undergoing a process by which lawmakers will work on the text of a bill.
Authored by US Representative Kathleen Rice of New York, it reads:
The mark-up comes amid a global firestorm around ransomware – malicious software that locks up a computer's data and demands a ransom paid in bitcoin – following an unprecedented wave of attacks.
A full copy of the bill can be found below:
Image via Shutterstock
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