Attorney General Jeff Sessions: Bitcoin ‘Is a Big Problem’

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Attorney General, Jeff Sessions, publically denounced bitcoin during his testimony to the Senate Judiciary Committee calling the cryptocurrency “a big problem.”

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“[Dark web users] use bitcoins and other untraceable financial capabilities and it is a big problem,” said Sessions.Sessions continued, commenting on the recent closure of two dark markets, including the largest marketplace, AlphaBay. Sessions stated that the market had “240,000 accounts where individuals were selling for the most part illegal substances and guns, including fentanyl.”

Since the closure of the Silk Road, a large dark market that was taken down in October 2013, agencies such as the FBI have voiced their trepidation regarding cryptocurrencies.

Sen. Dianne Feinstein

The argument they are making is that the anonymity factor of the technology obscures the paper trail investigators might usually track.

Senator Dianne Feinstein, a Democrat from California, stated to Sessions that she would work with the Justice Department on matters regarding the dark web through legislation or other programs.

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