The Committee for crime and terrorism of the U.S. Senate interviewed on Tuesday, the 26. June, invited experts to the influence of crypto-currencies in local elections. These agree: Bitcoin & co. were made such as “hand” to Finance behind the backs of the authorities, deputies and parties. This would make for foreign influence “vulnerable”. With a view to in November’s upcoming congressional elections in order to prevent, on the part of the legislator, but not necessarily. For the longest time, the elephant in the room design: the influence of The US elections by Russia, with a daily new investigations always seem more tangible.
The mood in the Senate Committee on crime and terrorism on Tuesday afternoon, the locker was in the beginning, but then it was serious. Because the topic of the survey and for the U.S. senators uncomfortable is On the Agenda, the influence of letter-box companies and crypto-state currencies to the local elections – this is for the members not less than the integrity of their own elections on the game.
The experts and senators were in the nearly hour-long interview, agreed. Foreign behind men may disguise their activities by using digital currencies and their influence on the upcoming elections, the Tenor of the questioning.
Such as David Murray, Vice-President of the American strategy consultant, Financial Integrity Network is that Bitcoin & co. could represent a hidden financial syringe for MEPs and party. Authorities would not crypto-collect payments, donations other than open party.
“If donors, financial institutions such as banks as payment channels, the location of the intermediary, a node point, with the campaigns, and foreign donors can identify,”
he explained. In the case of crypto this is not given currencies.
In order for this to be a godsend for foreign funders, who want to impose the “vulnerable” policy anonymous your stamp, explains Murray. In his opinion, there is a need, therefore, for more transparency in international payments, and more decisive identification of measures of cash flow of the campaigns.
Anonymous crypto-payments: “hand-made” for influence
Similarly, also highlighted Scott Dueweke, Director of the consulting firm for cyber security, the dark tower, the anonymity of crypto payments as a key Problem.
“Foreign parties, state actors, and possibly others who want to take on the political processes in the United States influence, need anonymity.”
The digital payment courses were, however, subject to no Central supervision or authority and had done so “for money laundering” that could not be traced. Thus, crypto would currencies, it will make members easy to circumvent the disclosure requirements and guidelines of your financial resources. Because in the United States, the campaigner must disclose all sources of funding and party donations. For this purpose, a disclosure obligation for crypto-Investments since last week.
He explained how campaigns and advertising would easily pay from abroad:
“The world is playing a shell game […]. You [the donor] switch to a Form of money in another. Fiat currency in and out of Fiat currency. But in between the many layers of crypto are switched currencies, which are impossible to understand.“
Similar to Murray, he calls for a transparency Initiative. A kind of partnership between the private crypto-businesses and the Public could help to KYC/AML-introduce Standards, and to identify payments.
The “Russia-affair”: a Trump in the office with Putin’s grace?
The starting point of the debate is the alleged influence of Russia on the presidential elections two years ago. According to reports, in 2016, crypto should have played currencies still have significant influence, in the future, however, this could be possible, the Tenor of the senators and experts.
Senator Sheldon Whitehouse, for example, showed that letter to open the box registry and crypto-currencies of the foreign influence of U.S. elections.
“Vladimir Putin and his oligarchs can use [cryptocurrencies] the exact same tactic used by American interest groups to anonymously spend money and to secure the influence of”,
The strategy consultant Dueweke agreed to in his remarks. So Russia has already been able to work with virtual currencies, influence on members of Parliament and parties. Facebook ads, for example, are given to large Parts of Russian payment processor Qiwi, starting in order.
The concern of the Senate: influence on the congressional elections in November
With views of the congressional elections in November, the uncertain mood in the country has been bubbling for quite some time. With new developments in the investigation about the Trump choice is a suspicion: Bots, Fake News, and, ultimately, money will have to be decided mainly from the Russian hands the elections in favor of the controversial President solidifies. American intelligence and former security Advisor to McMaster accuse Russia open to the choice of intervention.
The US Congress adopted that is why last summer a package of sanctions against Moscow, and put Trump under pressure to act. The fought back, however, long opposed by access.
With the survey this week shows that members of the Senate wished to prevent any foreign influence on the election this year. In these, the Republican majority, however, and so may trump backing in both chambers of Congress to the game, and thus his influence on much of the US legislation. This is likely to be the global supporters of the President quite a thorn in the eye.
While Russia reportedly crypto-currencies, such as Venezuela’s Petro-already used to make against US sanctions mobile, seem to be the senators to engage in your commitment with a view to the November concern: to be in the future of supposedly foreign powers directed.