[Congressional Record Volume 163, Number 147 (Tuesday, September 12, 2017)]
[House]
[Pages H7242-H7243]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
HOMELAND SECURITY ASSESSMENT OF TERRORISTS USE OF VIRTUAL CURRENCIES
ACT
Mr. PERRY. Mr. Speaker, I move to suspend the rules and pass the bill
(H.R. 2433) to direct the Under Secretary of Homeland Security for
Intelligence and Analysis to develop and disseminate a threat
assessment regarding terrorist use of virtual currency.
The Clerk read the title of the bill.
The text of the bill is as follows:
H.R. 2433
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Homeland Security Assessment
of Terrorists Use of Virtual Currencies Act''.
SEC. 2. THREAT ASSESSMENT ON TERRORIST USE OF VIRTUAL
CURRENCY.
(a) In General.--Not later than 120 days after the date of
the enactment of this Act, the Under Secretary of Homeland
Security for Intelligence and Analysis, as authorized by
section 201(b)(1) of the Homeland Security Act of 2002 (6
U.S.C. 121), shall, in coordination with appropriate Federal
partners, develop and disseminate a threat assessment
regarding the actual and potential threat posed by
individuals using virtual currency to carry out activities in
furtherance of an act of terrorism, including the provision
of material support or resources to a foreign terrorist
organization. Consistent with the protection of classified
and confidential unclassified information, the Under
Secretary shall share the threat assessment developed under
this section with State, local, and tribal law enforcement
officials, including officials that operate within State,
local, and regional fusion centers through the Department of
Homeland Security State, Local, and Regional Fusion Center
Initiative established in section 210A of the Homeland
Security Act of 2002 (6 U.S.C. 124h).
(b) Definitions.--In this section:
(1) The term ``foreign terrorist organization'' means an
organization designated as a foreign terrorist organization
under section 219 of the Immigration and Nationality Act (8
U.S.C. 1189).
(2) The term ``virtual currency'' means a digital
representation of value that functions as a medium of
exchange, a unit of account, or a store of value.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Pennsylvania (Mr. Perry) and the gentlewoman from New York (Miss Rice)
each will control 20 minutes.
The Chair recognizes the gentleman from Pennsylvania.
General Leave
Mr. PERRY. Mr. Speaker, I ask unanimous consent that all Members have
5 legislative days within which to revise and extend their remarks and
include any extraneous material on the bill under consideration.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Pennsylvania?
There was no objection.
Mr. PERRY. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, the Homeland Security Assessment of Terrorists Use of
Virtual Currencies Act introduced by the gentlewoman from New York
(Miss Rice) is an important measure targeting new ways terrorists may
be raising or transferring funds through the use of virtual currencies.
The bill directs the DHS Under Secretary for Intelligence and
Analysis, in coordination with Federal partners, to develop and
disseminate a threat assessment regarding the actual and potential
threat posed by individuals using virtual currency to carry out
activities in furtherance of an act of terrorism, including the
provision of material support or resources to a foreign terrorist
organization. It also directs the Under Secretary to share this threat
assessment with State, local, and Tribal law enforcement officials
through the National Network of Fusion Centers.
As the threat of terrorism evolves, so do the methods to finance and
support the actors who plot to attack the United States. The Federal
Government must evolve as well to meet these novel and technologically-
based challenges. This bill positions the Department to detect the new
digital-based methods in terrorist financing and support methods that
have already been utilized and to prepare for those that are soon to
follow.
This measure was considered by the Subcommittee on Counterterrorism
and Intelligence and included in the Committee on Homeland Security's
DHS authorization bill, which passed this very House in July.
I want to take time to thank the gentlewoman for her work and for her
diligence on this issue, and I urge my colleagues to support her bill.
Mr. Speaker, I reserve the balance of my time.
Miss RICE of New York. Mr. Speaker, I yield myself such time as I may
consume.
Mr. Speaker, I rise in support of my legislation, H.R. 2433, the
Homeland Security Assessment of Terrorists Use of Virtual Currencies
Act.
Yesterday marked 16 years since the September 11 attacks when 19
terrorists hijacked four passenger planes, two of which struck the
World Trade Center towers in my home State of New York.
In the 16 years since the deadliest terrorist attack in American
history, the United States has led the global campaign to combat
terrorism, thwarting plots and preventing attacks on American soil,
identifying and disrupting terrorist networks around the world, hunting
down terrorists wherever they hide, and proving that they can and will
be brought to justice.
We know that the threat of terrorism is not the same as it was 16
years ago. It is a threat that constantly evolves, and we need to
evolve ahead of it. That is why I introduced H.R. 2433.
In recent years, we have seen instances in which members of some
terrorist groups have turned to virtual currencies to support
themselves and fund their operations. Last year, the Foundation for
Defense of Democracies investigated a terrorist funding campaign in
which a terrorist group in the Gaza Strip received donations to the
virtual currency bitcoin. Earlier this year, Indonesian authorities
reported that a Syria-based Indonesian with ties
[[Page H7243]]
to ISIL used virtual currency to fund attacks in Indonesia.
Virtual currencies offer high-speed and low-cost networks and access
to users all over the world, which creates significant potential appeal
to terrorists, particularly lone-wolf attackers because of the nominal
cost often associated with carrying out that type of attack.
Research suggests that terrorists' use of virtual currencies have so
far been limited to a handful of instances, two of which I have
mentioned. But with groups like ISIL becoming more technologically
sophisticated and virtual currencies becoming more widely accessible,
the table is set for this threat to grow significantly in a very short
time. That is why it is critical that we act now to assess and
understand this emerging threat.
My bill requires DHS' Office of Intelligence and Analysis to develop
and disseminate a threat assessment of the use of virtual currencies to
support terrorist activities. Further, to ensure that this information
is shared throughout the law enforcement community, my bill requires
the assessment to be shared with State, local, and Tribal law
enforcement, including those offices that operate within State, local,
and regional fusion centers.
Enacting this bill will give counterterrorism and law enforcement
officials at all levels the information they need to evolve ahead of
this threat and help keep Americans safe. I urge my House colleagues to
support my bill.
Mr. Speaker, I reserve the balance of my time.
Mr. PERRY. Mr. Speaker, my friend from New York has done an excellent
job in outlining, explaining, and articulating her legislation;
therefore, I have no other speakers. If the gentlewoman from New York
(Miss Rice), has no other speakers, I reserve the balance of my time to
close.
Miss RICE of New York. Mr. Speaker, I am prepared to close.
Mr. Speaker, H.R. 2433 is an important piece of legislation that
received overwhelming bipartisan support in the Committee on Homeland
Security. Enactment of H.R. 2433 will ensure that the Department of
Homeland Security closely monitors this evolving threat so that we are
prepared to prevent terrorists from using virtual currencies to finance
attacks on the U.S. and around the world. I encourage my colleagues to
support my legislation, H.R. 2433.
Mr. Speaker, I yield back the balance of my time.
Mr. PERRY. Mr. Speaker, I once again urge my colleagues to support a
good, well thought-out, meaningful, and useful bill, H.R. 2433.
Mr. Speaker, I yield back the balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Pennsylvania (Mr. Perry) that the House suspend the
rules and pass the bill, H.R. 2433.
The question was taken; and (two-thirds being in the affirmative) the
rules were suspended and the bill was passed.
A motion to reconsider was laid on the table.
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