The House of Representatives in the United States has just
The House of Representatives in the United States has just passed a bill, commissioning a thorough evaluation and study of the use for crypto in online marketplaces to make sex trafficking and drug trade possible. This intriguing new study has been commissioned through various bi-partisan bill known as FIND.
FIND stands for “Fight Illicit Networks and Detect” Trafficking Act of 2019. The bill, numbered H.R. 502, was passed by a majority of four hundred and twelve to thirteen on 28th of January, 2019. The bill was first introduced in the month of June, last year, in 2018 at the behest of Juan Vargas, one of the representatives.
The bill, H.R. 502, directs the Comptroller General of the United States to find out how cryptocurrencies and associated online marketplaces that make use of such cryptocurrencies may make it easier for sex traffickers and drug dealers to conduct their unscrupulous operations.
Based upon what the study finds out and concludes, the office of the Comptroller General is also expected to formulate recommendations with regard to legislative and Regulatory measures to curb the risks posed by crypto’s role in these areas.
As per what was reported by a local news outlet based in Washington DC itself, Juan Vargas, the proponent of the bill, called the attention of the house to his proposals by saying:
“If we are to craft effective regulatory and legislative solutions to combat these transnational criminal organizations, we need to fully study and analyze how virtual currencies and online marketplaces are used to facilitate sex and drug trafficking, to determine how best to eliminate their use.”
According to an official press release published by the office of Vargas, he celebrated the passing of the bill by giving the following statement:
“I am glad to see that my bill, the FIND Trafficking Act, passed out of the House with strong bipartisan support. This bill is a critical first step for Congress to better understand the full extent of how virtual currencies are being used to facilitate drug and sex trafficking. H.R. 502 will equip us with the information needed to make our communities safer by proposing effective legislative solutions to combat these illicit crimes. I look forward to seeing the same level of support for this legislation in the Senate.”
Interestingly, the House also passed by voice vote a bill numbered H.R. 56, pushing for a grant fund to finance ideas, innovation, research etc. aimed towards reining the unscrupulous use of crypto coins in
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