Yesterday, in his speech, the Deputy of the office of the United States for terrorism and financial intelligence United States urged the international community harder to regulate cryptocurrency that, in its opinion, should help to protect the financial system and national security.
Referring to the recent emergence of crypto-currencies, the Petro in Venezuela, as an example, Segal Mandelker said that nedemokratiski regimes, terrorists and other criminals use crypto currencies for “hacking the financial system” to hide their income and “to Finance their illegal activities.”
Mandler, believes that the main reason for this is the lack of international regulation of the cryptocurrency.
The lack of regulation in the framework of AML/CFT from the creators of virtual currencies, greatly exacerbating the risks of using the cryptocurrency for illegal activities. Currently, we are one of the main countries in the world, along with Japan and Australia, which regulate this activity in the framework of AML/CFT. But to effectively counter the illegal use of cryptocurrency, it is necessary that our example was followed by the rest of the country, and we must make this a priority in our activities.
Mandelker further stated that a fine in the amount of $ 110 million, which they intend to with the cryptocurrency exchange BTC-e, shows the willingness of the Treasury to work actively in this area.
The company had no funds in order to prevent its use for an illegal purpose. As a result, they have become one of the main tools of cybercriminals from around the world.
Mandlekar urged regulatory authorities to consolidate their efforts to prevent financial crime and protect national security. She also stated that they themselves cryptocurrency companies should strengthen their actions in the fight against money laundering and financing of terrorism, particularly in countries where there is no cryptocurrency regulation.
You play a key role in countering the threats that we face. The expectations of your customers, counterparties and countries in which you operate are critical to ensure transparency of the international financial system and eliminate the bad actors.