According to some statements, the former director of the Central Intelligence Agency of the United States, CIA, Michael Joseph Morell gives great support to Bitcoin.
«As more seizures and arrests are made. We believe that illicit actors will continue to stay away from the use of Bitcoin. For money laundering purposes to other ways that make it easier for them to hide their activities».
Specifically, Michael Joseph Morell published a report in which he endorses and invites the urgent use of Bitcoin. In doing so, he put on notice to senior government officials issuing public warnings about the possible use of Bitcoin by criminals. Like the Secretary of the Treasury of the United States, Janet Yellen.
As a curious fact, Morell joined his colleagues Josh Kirshner and Thomas Schoenberger in preparing the report. Although the conclusions remain his.
Bitcoin receives strong vote of confidence from Michael Morell
Indeed, contrary to what Janet Yellen has said, who on several occasions has shown her concern about the alleged links of Bitcoin with illicit activities. Michael Morell, declares that it is invalid for this association to become general.
Based on this, Michael Morell published a separate article commissioned by the newly formed lobby group Crypto Council for Innovation. Whose founding members include Coinbase, Fidelity Digital Assets, and Square.
Very importantly, it directly refutes the narrative of Bitcoin’s illegality. And thus he denies phrases that senior officials have repeated ad nauseam. Specifically, referring to the links between Bitcoin and organized crime.
«I hope this study helps promote a transparent dialogue. Based on facts between innovators and legislators. To help ensure that we maintain national security. Very important, without hindering the adoption of revolutionary technologies».
In doing the analysis, he discovered that: «Bitcoin was not riddled with illicit activity. In fact, there was probably less illicit activity in the Bitcoin ecosystem, than in the traditional banking system.».
In a large study, Michael Morell reached two key conclusions:
- The broad generalizations about the use of Bitcoin in illicit finance are significantly exaggerated.
- Blockchain analysis is an intelligence gathering tool. And fight crime highly effective.
But this is not all, when speaking with Forbes before the release of the document. Michael Morell made it clear that there will also be serious geopolitical repercussions for the United States vis-à-vis China. If you waste energy and resources chasing a ghost, instead of taking advantage of Blockchain.
«We must ensure that conventional judgment, which is wrong about the illicit use of Bitcoin, does not prevent us from pushing forward the technological changes that will allow us to keep pace with China.».
There is still a lot of work to do
Michael Morell made it clear that we must always be aware of the national security implications of any technology. Including the crypto world.
In fact, he said: «I am literally shocked by how they find illicit activity. This is great intelligence work».
Finally, Morell indicated that: «Bitcoin is a new technology. And people are generally afraid of what they don’t understand. It will be the role of the government to identify how to best use and regulate Blockchain technology. To promote the national interest».
I say goodbye with this phrase from Michael Joseph Morell: «The technology behind Bitcoin is a boon for vigilance. Therefore, governments should not reject it, but adopt it».