US: New York Congressional Subcommittee Introduces 'Homeland Security Assessment of Terrorists Use of Virtual Currencies Act'

On May 16, 2017 a New York congressional subcommittee developed and introduced a bill to study the use of digital currencies by terrorists, which is referred to as the "Homeland Security Assessment of Terrorists Use of Virtual Currencies Act". It is set to be marked up by the House Subcommittee on Counterterrorism and Intelligence on May 18, 2017.

The bill has been initiated as a response to a global ransomware malicious software that blocks computers' data and demands a ransom be paid in Bitcoin.

Section 2 (Threat assessment on terrorist use of virtual currency) of the bill outlines:

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