Sentences with phrase «illicit use of digital currency»

OFAC will use sanctions in the fight against criminal and other malicious actors abusing digital currencies and emerging payment systems as a complement to existing tools, including diplomatic outreach and law enforcement authorities — To strengthen our efforts to combat the illicit use of digital currency transactions under our existing authorities, OFAC may include as identifiers on the SDN List specific digital currency addresses associated with blocked persons.

That bill would, among other things, help establish a system of «rewards for information leading to convictions related to terrorist use of digital currencies,» and «a FinTech Leadership in Innovation Program to encourage the development of tools and programs to combat terrorist and illicit use of digital currencies.»

Not exact matches

While bitcoin has been associated with illicit transactions, estimates of the proportion of the digital currency used in illegal activities vary.

Bank of England governor Mark Carney said this week that the G20 needed to consider how easily digital coins should be converted into other central - bank issued currencies, as well as the role of anonymity, as «a lot of the underlying use of these currencies has been illicit activity».

Bitcoin, a digital currency that is traded on a peer - to - peer network independent of central control, has engendered a wave of creative criminality - from bitcoin theft by hacking online platforms to potentially using the crypto - currency in money laundering, bribery and buying illicit products.

He said that MAS recognizes that digital currency transactions, may be used to conceal illicit movement of funds.

Much of the study, which is titled «Bitcoin Laundering: An Analysis of Illicit Flows Into Digital Currency Services,» revolves around the use of «conversion services.»

The potential use of digital currencies in illegal and illicit applications is a major turn - off for established traditional banking institutions.

The free flow of information about digital currencies implies active use of cryptocurrencies in trafficking illicit drugs, illegal weapons, forged documents, and other criminal activities.»