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Michael Morell, the former acting CIA Director, is confirming what the crypto community has held for years. In a report, he said money launderers and other criminals don’t use the Bitcoin network because transactions are too open and public.<\/strong><\/p>\n This is a conclusion reached by the Crypto Council for Innovation (CCI)–a new lobbying group that hopes to eventually inform and influencer regulatory action in the emerging cryptocurrency sector.<\/p>\n CCI “wants the same thing from technology,” the new group will never yield in “providing useful information – and dispelling misinformation” for policymakers, regulators, and citizens around the world.<\/p>\n “CCI focuses its efforts on the three areas where crypto has the greatest potential to transform lives and livelihoods for the better, by creating stronger economic growth and more jobs, a more inclusive, accessible financial system, and enhanced privacy and security.”<\/strong><\/p>\n<\/blockquote>\n The report notes that the transparent nature of the underlying public chains is a deterrence for criminals looking to launder cash or finance terrorists.<\/p>\n According to Gus Coldebella–the Chief Policy Maker at Paradigm, who now serves as one of the organization’s heads, wants to determine whether the conventional wisdom that Bitcoin (and crypto) is a tool for money laundering and tax evasion is objectively accurate<\/u><\/span>.<\/p>\n Interestingly, the CCI is looking beyond the U.S. Their focus is on advising and “moving” the regulatory needle across the globe.<\/p>\n This, Gus, explains is because the borderless nature of cryptocurrencies makes it irrelevant to address policymakers in one country and leaving out the rest.<\/p>\n Their coordination–especially of defining crypto as an industry, would mean opting for a global approach in readiness for crypto adoption.<\/p>\n He said:<\/p>\n<\/span>CCI: Moving the Regulatory Needle<\/strong><\/span><\/h2>\n
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<\/span>Bitcoin Not Used by Criminals<\/strong><\/span><\/h2>\n
<\/span>Taking a Global Approach<\/strong><\/span><\/h2>\n
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