Cryptocurrency Legislation
On January 28, 2019, the House of Representatives voted, 412 to 3, to suspend the rules and pass H.R. 502, the Fight Illicit Networks and Detect Trafficking Act. Introduced by Representative Juan Vargas (CA-D), the bill would direct the Government Accountability Office’s comptroller general to research how cryptocurrencies and online marketplaces can facilitate sex and drug trafficking. Representative Vargas stated on the House floor: If we are to craft effective regulatory and legislative solutions to combat these transnational criminal organizations, we need to fully study and analyze how virtual currencies and online marketplaces are used to facilitate sex and drug…
