FBI Director Says Crypto Is a ‘Significant Issue’ for Law Enforcement

Christopher Wray, Director of Federal Bureau of Investigation, says digital currency is a “significant issue” that is probably going to turn into a “bigger and bigger” concern for the law enforcement agency. 

Talking before the U.S. Senate Homeland Security and Governmental Affairs Committee on November 5, Wray reacted to inquiries from U.S. Congressperson Mitt Romney (R-UT) about digital currency, law enforcement, and terrorist deterrence, stating:

“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 backed up Romney’s line of questioning concerning financing of terrorist, stating that U.S. enemies are turning out to be “more facile with technology and particular various types of technology that anonymize their efforts.”

However, it’s not simply crypto. Wray underscored encryption is touching each part of rising technology like instant communications:

“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.”

Last year, the FBI stated it had approximately 130 cases involving cryptocurrency under scrutiny, from human trafficking to ransomware. Moreover, this May, the FBI shut down DeepDotWeb, a dark web market place that solicited a few services in digital currency.