🏛️ [Analysis] Virtual Currencies Act requires DHS to analyze terrorist's use of cryptocurrencies - Jesse Rifkin

Rep. Kathleen Rice (NY-D) is sponsoring H.R. 428, the Virtual Currencies Act, which would require the Department of Homeland Security’s to analyze, identify, and submit recommendations to Congress on terrorist's use of virtual currencies and cryptocurrencies. The bill, which is expected to pass with bipartisan support, is an information gathering tool rather than policy. Some libertarian members of Congress such as the Freedom Caucus are worried that H.R. 428 is a stepping stone toward broader censorship or restrictions in a blooming market. For her part, Rep. Rice denounced such assertions arguing the "bill will give law enforcement officials at all levels the 21st-century solutions, information and resources they need to counter this emerging threat.”