A representative from the US intelligence community has weighed in on the growing role of digital assets, such as Bitcoin, in the context of international relations and national security.
Bitcoin as a Strategic Tool Against Adversaries
CIA Deputy Director Michael Ellis described Bitcoin as 'another tool in the toolbox' for the US, emphasizing its significance in the context of international competition. Bitcoin and other digital currencies may offer new opportunities for tracking adversarial actions, such as those from China.
Cryptocurrency in CIA’s Intelligence Gathering
The core function of the CIA involves gathering and analyzing information to support US foreign policy and national security. Ellis indicated that cryptocurrencies could be utilized for tracking funds linked to criminal organizations or state adversaries.
The Future of Bitcoin and National Security
Despite existing concerns regarding the use of cryptocurrency for illicit purposes, Ellis pointed out that increased institutional acceptance of cryptocurrencies could ease monitoring of such activities. This suggests a need for the government to develop technical expertise and collaborate across various institutions.
Insights from CIA officials on cryptocurrencies highlight their significant role in the future of national security and international relations.
