Illicit Cryptocurrency Use Targeted in Proposed 2018 FBI Budget

in altcoins •  7 years ago 

It's been 2 and bit weeks of me speculating on alt coins, and 2 in particular that have caught my eye are ByteCoin (BCN) and Monero (XMR). Ive spent my initial mining effort on Monero and after seeing BCN being a more profitable coin i divested my efforts to BCN instead. After much deliberation i decided to split my hashes into both equally instead.

refer to links below, I believe these 2 coins in particular may increase in value significantly in the short term.

http://www.coindesk.com/illicit-cryptocurrency-use-targeted-proposed-2018-fbi-budget/
https://www.fbi.gov/news/testimony/fbi-budget-request-for-fiscal-year-2018

quoted from Coindesk
"The FBI is requesting $21m and 80 new employees in a bid to investigate emerging tech that could help the agency combat cybercrime.

In a budget request for fiscal year 2018, sent on 21st June, Andrew McCabe, acting director of the FBI, testified to the White House that the agency is facing what it believes are significant challenges in gaining access to digital information – even when it has the legal authority to do so. This notably includes cases that involve "drug traffickers using virtual currencies to obscure their transactions".

It is also the same narrative that the FBI's former Director James Comey put forth last month before the Senate Judiciary Committee.

The challenge, the agency has said, is that the FBI now requires more financial resources to investigate technologies and decipher information transmitted on the darknet. Elsewhere, it is also engaging in dialogues with companies that provide such technology to educate them on the "corrosive effects" that information inaccessibility has on "public safety and the rule of law".

Earlier this year, the privacy-encrypted digital currency Monero (XMR), for example, drew attention from FBI for similar reasons."

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  ·  7 years ago (edited)