Human trafficking expert urges US Congress to de-facto ban Bitcoin mining in America

posted 3 months ago
An “expert witness” testified to US Congress claiming that cryptocurrencies are helping to facilitate human trafficking, and therefore, he called for a de facto “ban” on mining Bitcoin (for Americans only).

David Murray, vice president of product development and services at the Financial Integrity Network, and formerly the director of the Office of Illicit Finance at the Treasury Department, recommended Congress create a new class of regulated financial institutions known as “virtual asset transaction validators,” i.e. crypto miners. These validators (miners) must, at the very least, govern who can participate in networks, and vet any issuers, exchanges or custodians they serve. He also said “Imposing regulations on people and entities who perform these functions almost certainly would make it difficult for some existing implementations of blockchain based payments to continue operating as they do today.”
Tags: opinion, news, blockchain, bitcoin