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Bitcoin Government The Almighty Buck The Military United States

US Government To Study Bitcoin As Possible Terrorist Threat 210

Posted by samzenpus
from the taking-a-good-look dept.
randomErr (172078) writes "The US Department of Defense is investigating whether Bitcoin and other virtual currencies are a potential terrorist threat. The Combating Terrorism Technical Support Office (CTTSO), a division within DOD that identifies and develops counter terrorism abilities and investigates irregular warfare and evolving threats, has listed Bitcoin among its topics for research and mission critical analysis related to terrorism."
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US Government To Study Bitcoin As Possible Terrorist Threat

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  • by i kan reed (749298) on Monday May 05, 2014 @04:00PM (#46922523) Homepage Journal

    FYI, all other electronic money transfers in the US are required to go through money laundering and terrorist funding checks. By law the bank isn't even allowed to tell you why you can't get your money, if the scan hits a positive.

  • No currency (Score:1, Interesting)

    by LeepII (946831) on Monday May 05, 2014 @04:07PM (#46922603)
    Face it there will be no currency the Rothchilds don't control.
  • by InsultsByThePound (3603437) on Monday May 05, 2014 @04:35PM (#46922923)

    Yeah, and in the last few decades law enforcement agencies on both the state and federal level have grown increasingly dependent on civil forfeiture in their insane drug war. Basically it's a guilty until proven innocent system, and good luck getting it back if the government took all your money to begin with.

    This was a country with $500 and $1000 (and more) dollar bills already back in the 1920s.... and now you're suspicious if you carry more than a few hundred dollar bills. Modern hundred dollar bills that I may add have less value than a 1920s Hamilton ($10 bill).

    Before anyone says it only happens to drug dealers, I had 2 friends go to CA with their life savings of $15k and a business plan get stopped in OK and the money seized and never seen again. Not an gram of drugs in the car, just some beer in the back. America looks more and more like a communist country every coming decade.

  • by X.25 (255792) on Monday May 05, 2014 @05:00PM (#46923191)

    FYI, all other electronic money transfers in the US are required to go through money laundering and terrorist funding checks. By law the bank isn't even allowed to tell you why you can't get your money, if the scan hits a positive.

    Obama administration offers $27 million in additional help for Syrian rebels

    Wonder how they'll transfer it...

  • by PRMan (959735) on Monday May 05, 2014 @05:08PM (#46923265)
    It seems like they should have put it in bitcoin and retrieved it when they got to CA.
  • by IamTheRealMike (537420) <mike@plan99.net> on Monday May 05, 2014 @05:36PM (#46923523) Homepage

    Be careful what you wish for [usatoday.com]. It looks like Holder is going to actually try and jail some bankers.

    However, these banks will not be accused of laundering money for terrorists, except under an extremely flexible definition of "terrorist". Most likely they will be accused of evading sanctions and/or helping naughty Americans avoid tax (let's ignore that some of these Americans had left America). Unfortunately last time the USA went on the war path over sanction-evading banks it turned out that the countries the financial activity was happening in didn't have those sanctions. Another minor detail for the US Govt. Jurisdiction doesn't seem to matter to them.

    I do feel like we're entering dangerous new territory with this constant beating up of banks, often under deeply questionable covers. The DoJ and Treasury dept have realised that bankers are so politically weak they can be made to do anything because people automatically assume they're guilty, and just the threat of prosecution under bogus laws can cow them into subservience - which is a problem because by seizing control of the banks they seize control of the people, who cannot do without bank accounts. Hence Operation Choke Point.

    Frankly, I do not believe bankers are a part of some cigar smoking Al-Qaeda terrorist conspiracy and I'd rather they were left alone than we go down this path .... it can only lead to even more gross abuses of power than what we've already seen.

I am not now, nor have I ever been, a member of the demigodic party. -- Dennis Ritchie

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