US National Security Advisor: Bitcoin Needs to Be Understood, Not Feared

A think tank that advises several US government agencies is now exploring the potential threats bitcoin poses to national security.

Still in its earliest phases, the research is being headed by the director of analysis at the Center on Sanctions and Illicit Finance in Washington, DC, and crafted to gather data on how state actors might currently use bitcoin and other cryptocurrencies to evade sanctions.

Contrary to some inflammatory calls to ban bitcoin, however, the research, being conducted by Yaya J Fanusie of the Foundation for the Defense of Democracies, is looking as much at how blockchain can help prevent illicit activity as how it can enable it.

After spending seven years as both an economic and counter-terrorism analyst in the CIA, Fanusie told CoinDesk:

“What is needed is a more informed discussion about what the implications may be, because there’s so much defensiveness – there’s defensiveness on both sides, and I think we should come a little bit to the center, point out potential threats, but also point out benefits it has.”

The Foundation for the Defense of Democracies is a non-profit organization founded in 2001 to advise members of Congress, federal agencies, the US Treasury Department and other agencies about how to prevent terrorism

Read more ... source: CoinDesk

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