[Congressional Record (Bound Edition), Volume 163 (2017), Part 10]
[House]
[Pages 13779-13780]
[From the U.S. 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.

[[Page 13780]]

  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 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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