U.S. Congressman Says ‘Digital Currencies Are Not Compliant’ – Bitcoin News

from news.bitcoin.com – On July 8 the Financial Services Committee for the U.S. House of Representatives held a hearing concerning digital currencies. The meeting discussed the implications of virtual currencies in regards to financial innovation and national security. During the event, the Republican Texas Congressman Roger Williams asked for increased digital currency regulation to fend off terrorist funding and criminal activity.

U.S. Congressman Says ‘Digital Currencies Are Not Compliant’
Congressman from the 25th district of Texas, Roger Williams.
This week 25th district of Texas congressman, Roger Williams, published his commentary when he addressed the congressional hearing and the Terrorism and Illicit Finance Subcommittee on July 8. Participants of the meeting included U.S. congressional leaders, and digital currency advocates from organizations such as Chainalysis, Coin Center, and Elliptic. Williams believes virtual currencies can offer “many exciting opportunities for our future,” but can also fund criminal elements at the same time.

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“Our nation must ensure that the rise of digital currency, and its use within our borders, does not help aid the actions of terrorists, criminals, and others who want to hurt us,” explains Williams.

Mr. Speaker, at this hearing, the serious national security implications of digital currency, and its use by terrorists was examined. Unless we in Congress develop rational and balanced policies, we may be enabling the very terrorists who wish to destroy us.

read more – https://news.bitcoin.com/us-congressman-digital-currencies-are-not-compliant/

U.S. Congressman Says ‘Digital Currencies Are Not Compliant’ – Bitcoin News

Republican Texas Congressman Roger Williams asked for increased digital currency regulation to fend off terrorist funding and criminal activity.

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