The promoters of the bitcoin expressed the wish , Monday, November 18 , this virtual currency is no longer associated with criminal money , while these currencies were internet in the business center of money laundering or drug trafficking. The " bitcoin is not a magic veil for illegal transactions ," assured the representative of Bitcoin Foundation , responsible for promoting this currency Patrick Murck , at a Senate hearing devoted to the " risk " and " promises " virtual currencies.
Launched in 2009, the bitcoin can be traded online - on servers called " minor bitcoins " - against real money or used to buy goods and services on the internet. It is regulated by any government. Little known to the general public , the internet currency was recently talking to her when the FBI, the Federal Police announced the closure of Silk Roak , an underground site where one could buy or sell drugs with bitcoins . The FBI seized this opportunity bitcoins 26,000 , or 3.6 million at that time .
Government officials have also said before the Senate another digital currency , Liberty Reserve (LR) , created in 2006 , was the tool of the biggest money laundering - $ 6 billion - unearthed in the United States. The payment platform of the same name would be sent without trace money from anyone, anywhere in the world, without any regulation.
Ernie Allen, president of an organization against pedophilia (International Centre for Missing & Exploited Children ) also pointed out that " child pornography was being created and developed using [ ... ] virtual currencies ."
"Generate jobs and growth "
But Patrick Murck the bitcoin goes " beyond Silk Road" . And if the authorities claimed too " unfriendly " against the bitcoin , companies that use the United States may choose to emigrate " to the most welcoming country," he threatened .
"The question is whether the economy bitcoin will be integrated with U.S. financial services and generate jobs and growth [ ... ] or if the bitcoin economy will migrate with the jobs and innovation go with , " he has noted .
Asked about the president of the commission , Thomas Carper , Jennifer Shasky , Head of Financial Crime Department of the Treasury , said that if these companies left the U.S. because of the "burden" of regulation in these " would derive a profit from short-term . "
Jeremy Allaire , CEO of Circle Internet Financial, which provides financial services for virtual currency , denounced the " high cost " of traditional currencies.
" Faster, more secure and more efficient "
Patrick Murck however hailed an "improvement in the tone and content of the remarks of government officials and bank executives ."
While these currencies are directly competing currencies issued by central banks, such as the dollar, the chairman of the U.S. central bank (Fed ), Ben Bernanke wrote in early September in the Senate that these innovations could " pose risks " but also be promising " long - term " through a " faster, more secure and more efficient, " payment system.
Mythili Raman , a representative of the Ministry of Justice, anticipated a "growth" of those currencies, which " will be accompanied by an increase in illegal transactions," and invited elected to "vigilance" . More severe, the Department of Homeland Security , recognized " the need for an aggressive attitude towards " these virtual currencies.
This summer, Germany recognized the bitcoin as a currency , allowing it to tax transactions in that currency. There are about 1.5 billion equivalent bitcoins in circulation worldwide .
According to Ernie Allen, there is consensus that this technology " needs to be protected " , but its use for illicit activities is an obstacle for the "long term" . The president of the commission , Senator Thomas Carper hoped we could take advantage of " economic benefits " of virtual currencies , while " getting rid of their criminal behavior."
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