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A new US bill aims to combat the terrorist use of cryptocurrencies

A recently enacted US law bill on January 10 aims to fight terrorism by offering rewards for terrorism supported by cryptocurrency.

The bill, presented to Congress by Ted Budd (R-NC) representative of the House Financial Services Committee, proposes an independent financial technology working group to distribute the awards, including the amount in dollars or cryptocurrency was not indicated.

The second section of the bill reads as follows:

"The Federal Government Should Give Priority to Investigating the Terrorist and Illegal Use of New Financial Technologies" , including digital currencies.

The Fintech Working Group would be led by the Secretary of the Treasury and staffed by five federal directors and four private sector individuals from think tanks, non-profit organizations and

The bill also provides for the creation of a FinTech Leadership in Innovation Fund to inspire the development of programs and methods for detecting the use of digital currency among terrorists. This fund could provide grants to universities, businesses, NGOs and anyone who could contribute to research on anti-terrorism detection tools

In May 2017, a US bill required users to cross the border. US border to declare their cryptocurrency assets they exceed more than $ 10,000. The purpose of the bill was to fight money laundering, often the source of funding for terrorists.

Despite the increasing attention of regulators for cryptocurrency-financed terrorism, a June 2017 report from the European Union on digital currency, perhaps because of the potential for follow-up Blockchain records.