Bitcoin Forum

"News reports indicate that Bitcoins may have been used to help finance the flight and activity of fugitives.

This line is included in the United States House of Representatives' Commerce, Justice, Sicence, and Related Agencies Appropriations Bil', 2014 for the FBI.

I have a question:  What news reports?  What fugitive's flight?  Snowen??  Has this been reported??

[snip]
COMMERCE, JUSTICE, SCIENCE, AND RELATED AGENCIES
APPROPRIATIONS BILL, 2014
llll.—Committed to the Committee of the Whole House on the State of the
Union and ordered to be printed
Mr. WOLF, from the Committee on Appropriations,
submitted the following
R E P O R T

The Committee on Appropriations submits the following report in
explanation of the accompanying bill making appropriations for
Commerce, Justice, Science, and related agencies for the fiscal year
ending September 30, 2014, and for other purposes.

[snip]
FEDERAL BUREAU OF INVESTIGATION
SALARIES AND EXPENSES
The Committee recommends $8,042,000,000 for the Salaries and
Expenses account of the Federal Bureau of Investigation (FBI),
which is $10,626,000 above fiscal year 2013 and $319,687,000
below the request. The Committee has provided separate funding
recommendations by decision unit as follows:
Intelligence ............................................................................... ........... $1,681,000,000
Counterterrorism/Counterintelligence .............................................. 3,240,000,000
Criminal Enterprise/Federal Crimes ................................................ 2,616,000,000
Criminal Justice Services .................................................................. 505,000,000
Total, Salaries and Expenses ..................................................... $8,042,000,000

[snip]

Money laundering.—The Committee understands that Bitcoins
and other forms of peer-to-peer digital currency are a potential
means for criminal, terrorist or other illegal organizations and individuals
to illegally launder and transfer money. News reports indicate
that Bitcoins may have been used to help finance the flight
and activity of fugitives. The Committee directs the FBI, in consultation
with the Department and other Federal partners, to provide
a briefing no later 120 days after the enactment of this Act
on the nature and scale of the risk posed by such ersatz currency,
both in financing illegal enterprises and in undermining financial
institutions. The briefing should describe the FBI efforts in the context
of a coordinated Federal response to this challenge, and identify
staffing and other resources devoted to this effort.


er·satz
ˈerˌsäts-ˌzätserˈzäts
adjective
1.
(of a product) made or used as a substitute, typically an inferior one, for something else.

Full Contents:
http://appropriations.house.gov/uploadedfiles/hrpt-113-hr-fy2014-cjs.pdf

Money laundering.—The Committee understands that Cash
is a potential means for criminal, terrorist
or other illegal organizations and individuals
to illegally launder and transfer money. News reports indicate
that Cash may have been used to help finance the flight
and activity of fugitives.

i heard US dollars were involved as well and possibly Boeing and an american airline!

Weird how the folks writing this shit seem to forget about fiat paper funny money and it being the, oh don't know, primary fucking choice for illicit activity since metal debasement!

Shit. You saw and heard something, better call Ms. Napolitano and let her know Boeing is supporting the big "T". I'm sure she'll get right on it!

Boeing is the #1 airplane of choice for fugitives.

tbh, the stink regarding Snowden is crazy. people should be losing jobs within the government instead of coordinating a witch hunt.

...and for crashing into buildings...

1. Total Bitcoin Market Value
2. The Fine paid by HSBC for Money Laundering
3. The amount of USD laundered in Mexico by HSBC
4  The amount of USD laundered by HSBC through IRAN
5.  The amount of USD Bank of Tokyo Mitsubishi-UFJ laundered
EDIT: i removed Standard Charter.  Not sure of the Figure.
https://i.imgur.com/PfIpih3.jpg

Serious trends emerging.

Delicious BCB! Saved for later use if you don't mind.

I think its all padding to support the primary purpose which is to stop Bitcoin from "undermining financial institutions".

Well Goliath is awake now. Anybody seen David? He's got work to do.

I'm not sure whether the implicit linking of this with "financing illegal activity" is based in incompetence or in malice.  Either way, I feel that this is the most important point.  After all, stripping powers most prone to abuse away from financial institutions is one of the main reasons Bitcoin came into existence in the first place.

If the FBI invest just one man-hour of web searching for this they'll find plenty of evidence of a serious and potentially effective attempt to "undermine financial institutions" and will even find the contact information of a number of bitcoiners that will proudly proclaim this intent.

Why are people so quick to point this out??  Fiat paper money has been used by fugitives and bad asses since the dawn on its inception onto the global scene. 

Such a lame argument. Every time. 

If BTC was the primary choice, the spot price would be 6 figures right now.

The Government is lying again...as usual.

Which is why they will have to do something about it.  They didn't bail out the banks just to have them overthrown. This is the biggest risk to Bitcoin.

That's their job.

Need a picture of Grumpy Cat saying "Good" here.

Hah!

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