Anti-human trafficking expert urges US Congress to regulate crypto miners

According to CoinDesk on September 3, at the upcoming U.S. International Security and International Trade and Finance Subcommittee (part of the U.S. Senate Banking Committee) today, expert witnesses will prove that cryptocurrencies help encourage the growth of human trafficking and should therefore be more strictly regulated than they are currently. David Murray, vice president of product development and services at the Financial Integrity Network, suggested in his speech that Congress create this new financial institution to regulate crypto miners. He believes that miners must at least manage who can participate in the network and review any issuers, exchanges or custodians they serve. Mining is not currently regulated under the Bank Secrecy Act, "but if they are included in the scope of the Bank Secrecy Act, crypto miners may become the gatekeepers of the virtual asset system. Two other expert witnesses at the subcommittee hearing, Nebraska Attorney General Douglas Peterson and Nebraska Senator Julie Slama, also mentioned the use of cryptocurrencies in human trafficking in their prepared remarks.