Tuesday, April 08, 2014

Attorney General Holder Testifies Before Congress on Bitcoin Concerns

Attorney General Eric Holder told lawmakers that Bitcoin and other virtual currencies pose a challenge for law enforcement agencies, because they can be used to "conceal illegal activity."

Holder, testifying before the House Judiciary Committee on Tuesday, said the Justice Department is working with financial regulators to figure out how to deal with bad actors who use digital currencies to buy drugs, weapons and other illegal goods and services.

[...]

Holder told lawmakers that the Justice Department is "committed to innovating alongside this new technology in order to ensure our investigations are not impeded by any improvement in criminals' ability to move funds anonymously."

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