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CIA confirms cryptocurrency projects are in the works

CIA Director William Burns stated at the Wall Street Journal CEO Council Summit on Monday that the agency is working on numerous cryptocurrency-related programs. The FBI, according to Burns, is keeping a close eye on the digital asset and ransomware markets. Burns’ predecessor was the one who began Bitcoin efforts to investigate the potential consequences of cryptocurrencies.

CIA confirms it is working on cryptocurrency projects

 CIA confirms cryptocurrency projects are in the works

Image Source: Bitcoin News

CIA Director William Burns said the agency is working on multiple cryptocurrency-related initiatives during the Wall Street Journal CEO Council Summit on Monday. Burns stated that the FBI is keeping an eye on the digital asset and ransomware markets. Burns’ predecessor was the one who started the cryptocurrency initiatives to look into the potential repercussions of cryptocurrencies.

It is now official that the CIA is active in crypto. CIA Director William Burns stated that the government agency is working on various cryptocurrency-related projects during the Wall Street Journal’s CEO Summit on Monday. According to Burns, the projects were started by his predecessor, David Cohen.

While some conspiracy theorists believe the CIA invented Bitcoin — even though one computer scientist disagrees – Burns’ interview only verifies the agency’s role. He described it as a “key priority” for the CIA, and he stated that it would receive “resources and attention” in the future. Burns also stated that the CIA would like to recruit crypto experts to its staff of intelligence analysts as well as create lines of contact with industry experts.

Burns said the digital asset field “may have a significant impact” on the country when it comes to ransomware assaults. Burns did remark that the agency is looking into the financial networks utilized by criminal gangs holding digital assets for ransom, but he didn’t go into detail.

“A lot of various programs focused on cryptocurrency and attempting to look at second-and third-order effects as well as collaborating with our colleagues in other sections of the US government to offer good intelligence on what we’re seeing,” Burns said of his predecessor.

What are your thoughts on the CIA’s involvement in a variety of crypto-related projects? Please share your thoughts in the comments box below.

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Also read: Former Google CEO joins Chainlink as a strategic advisor

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