FBI Propose Budget Allocation to Investigate Virtual Currency Transactions!
On solstice the acting director of the Federal Bureau of Investigation, St. Andrew McCabe, gave a speech to U.S. bureaucrats requesting a replacement allow the year of 2018. The request proposal totals of $8.77 billion, and a few of that funding are going to be confiscated towards work the employment of virtual currencies by criminals who “obscure their transactions.”
During this year’s law enforcement agency budget hearing St. Andrew McCabe asked for continuing support throughout the agency’s leadership transition amount. McCabe has taken the place of former law enforcement agency director James Comey who was giving up by President Donald Trump. The acting director has a similar considerations as Comey did with reference to the challenges attached gaining access to digital info.
The $8 billion dollar request can enhance eight programs that McCabe says square measure important needs for the agency’s day to day operations. Quite little bit of the funding can go towards fighting cyber crime and battling technologies that give namelessness.
McCabe’s reported:
“$41.5 million to enhance cyber investigative capabilities, and $21.6 million for operational technology investments related to the ‘Going Dark’ initiative.”
Virtual Currencies Obscuring Illicit Transactions
The ‘Going Dark’ initiative was initial delineate by James Comey within the past World Health Organization explained that technologies like encoding and digital currencies were creating it troublesome for the FBI’s investigations. The most purpose of the ‘Going Dark’ outline details that agents cannot access sure devices attributable to stronger encoding. Aboard this, technologies like cryptocurrencies ar getting used to anonymizemoney transactions tied to illicit activity.
Some of our criminal investigators face the challenge of identifying online pedophiles who hide their crimes and identities behind layers of anonymizing technologies, or drug traffickers who use virtual currencies to obscure their transactions.
Funding Will Help Improve the FBI’s Resources Against Key Threats
McCabe’s transcript details that Federal Bureau of Investigation agents square measure victimization “technical capabilities and ancient inquiring techniques,” to mitigate “cyber threats” and therefore the challenge of “going dark.” The report says the financial request can facilitate address “key threats and challenges that we tend to face, each as a nation and as a corporation.”
The elaborated budget request comes at a time once the U.S. government Associate in Nursing and enforcement agencies area unit showing an inflated target digital currencies as “monetary instruments” utilized in criminal funding. Senate Bill 1241 dubbed the “Combating concealment, Terrorist funding and Counterfeiting Act” conjointly asks government agencies like the law enforcement agency, CIA, and independent agency to extend their efforts researching these technologies.
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Where are a lot of money involved there is also FBI in the middle. I'm not from U.S. but I heard a lot of 'good' things about Trump and I have to admit that 'I like him'! If you want to know more 'good' and funny things about Trump here is the best place to see them: @mynameisbrian,
- What do you think about the FBI’s budget request to combat cyber threats and those who obscure transactions with digital currencies?
- What do you think about Comey’s statements before being fired by Trump?
This comes as no surprise. Everything -including communicating is an act of terrorism in the mind of the government. Kick them out of office.
That's right everything is an act of terrorism in the mind of the government and that's a reason for them to jump in! Cheers!
Maybe the ultra-secret coins will skyrocket on the news? Who knows. For the rest of us, we can play with our cryptos while it lasts. My only worry is that poloniex has a image of me holding my passport.
:)) same here man! And not only on Poloniex, I have made the same in other places too! I have to look for those kinds of ultra-secret coins to get in, so that way I don't miss the skyrocket!
A decentralized exchange is what we need. That's why I keep much of my funds in bitshares. The only drawback is that all you need to know about them is my nickname.
Yes, that will be great. To have that kind of exchange. I also had a lot of my funds in bitshares but I hade a week period of time and sold them all. Big mistake, but it is how it is!
Regulation , control and tax interest is the hidden agenda. Why not allow our freedom in crypto space...
thans for sharing.
Also read: The fears in Crypto currencies : Etherium downfall to 0.10 USD : https://steemit.com/steem/@charles1/the-fears-in-crypto-currencies-etherium-plunge
They want to take our freedom in crypto because people are making a lot of money and they don't get a share of that money! And that's playful for them!
I think I have read that ETH downfall to 0.10 USD!
Cryptocurrency is the future, usage must be transparent and free!
Indeed, nicely said @ivand83!
Thank you for sharing!
I think we're approaching the same situation which happened for the world wide web: it's a criminals' den and it must be stopped or heavily regulated by laws.
We know how the story went, today the internet is not a place for cybercriminals and terrorists only, but it's used by many common people for perfectly legal purposes.
I think cryptocurrency is such an "invention" that will not be stopped or made illegal, just because it's useful and legally neutral like the internet is!
They always find a reason to get in and make people believe that this is cyber criminals and terrorist place. But, we already know that' not true. For those who don't have any idea about the crypto world will be a big new! Thanks for stopping by @andrew0!
I have played poker with a guy andrew0 and he was very good. Do you play poker on pokerstars?
Unfortunately I don't play poker (for now) :-D
Yes, I believe that in the end cryptocurrencies will become mainstream and perfectly normal to use.
That's ok, I was just curious if you do. I can't wait that day when all people will use crypto. :D
Yep, they want their share of the cryptos. god damn criminals
:))) I wonder who doesn't want a share of the cryptos! :))) Cheers @runicar!
They need to let it be as it is.. :) Great post by the way. Thank you for sharing. Following you now and Upped your post . Hope to read more blogs from you. See you around.
Yes, they need to let it be as it was but I'm not sure that they will let it be! Follow you back and thanks for reading my post! Cheers!
Thanks, following
Thank you, follow you back!