Holder Sees Definite Danger in Bitcoin

On April 8 Attorney General Eric Holder made a public address to US lawmakers stating that Bitcoin, as well as other currencies derived from it, is a provocative issue for law enforcement agencies, largely because it can be used to “conceal illegal activity”.

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Holder Sees Definite Danger in Bitcoin
On April 8 Attorney General Eric Holder made a public address to US lawmakers stating that Bitcoin, as well as other currencies derived from it, is a provocative issue for law enforcement agencies, largely because it can be used to “conceal illegal activity”.



Holder made this announcement before the House Judiciary Committee on Tuesday. According to his report the Department of Justice has united with financial regulators to develop a method to withstand users committing illegal actions using Bitcoin. Listed accusations include drug dealing, purchase of weapons and human trafficking.

Attorney General Eric Holder said:

“Those who favor virtual currencies solely for their ability to help mask drug trafficking or other illicit conduct should think twice.... [Justice Department is] committed to innovating alongside this new technology in order to ensure our investigations are not impeded by any improvement in criminals' ability to move funds anonymously.”

The Attorney General doubts the libertarian nature of Bitcoin, explaining that virtual assets can be even easier tracked than fiat money or precious metals. The idea to limit the influence of the country on the economy is nothing else, but absurd.

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