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H.R. 2433 (115th): Homeland Security Assessment of Terrorists Use of Virtual Currencies Act

H.R. 2433 requires the Under Secretary for Intelligence and Analysis to assess the threat posed by the use of virtual currencies to support designated foreign terrorist organizations (FTOs), and disseminate the assessment to State, local, and tribal law enforcement officials via the National Network of Fusion Centers.

According to the bill’s sponsor, “Research suggests that terrorists’ use of virtual currencies has been limited so far, but with groups like ISIS becoming more technologically sophisticated and virtual currencies becoming more accessible, the table is set for this threat to grow significantly in a very short time. We need to confront this threat immediately, and the first step is to fully assess and understand it.”

H.R. 2433 was included in H.R. 2825, the Department of Homeland Security Reauthorization Act, which passed the House on July 20th, 2017, by a vote of 386-41.

Last updated Sep 26, 2017. Source: Republican Policy Committee

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Sep 12, 2017.

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Homeland Security Assessment of Terrorists Use of Virtual Currencies Act

(Sec. 2) This bill directs the Department of Homeland Security's Office of Intelligence and Analysis: (1) in coordination with appropriate federal partners, to develop and disseminate a threat assessment regarding the threat posed by individuals using virtual currency to carry out activities in furtherance of an act of terrorism, including the provision of material support or resources to a foreign terrorist organization; and (2) to share such assessment with state, local, and tribal law enforcement officials.