William Burns, the director of the Central Intelligence Agency has announced that the previous administration of the agency was involved in analyzing cryptocurrency and its activities. They collected intelligence on the activities in the field.
During an interview with the Wall Street Journal at the CEO Council summit on the 6th of December, the Director stated that the agency was thinking of hiring more blockchain intelligence experts. Burns believes that the issues linked to the crypto space may impact the operations of the US, especially in the aspect of ransomware.
Burns stated that:
“My predecessor started this. They had started a number of different cryptocurrency-focused projects attempting to look at second and third-order consequences as well and helping our colleagues in other parts of the U.S. government to provide solid intelligence on what we’re seeing as well.”
He went on to add that having the necessary cryptographic knowledge at the tip of one’s hand was crucial to the agency, and they intended to devote the necessary resources to achieve it.
The director noted that cyber attackers were demanding payment through crypto, and it was important that the agency tackled it, though he didn’t state the method that they were planning to use. He hinted that the activities of the agency will “reach into financial networks.”
Burns recently assumed the Director position, but it shows that he intends to continue the plans of his predecessor. He will remain in the position until President Biden says otherwise.
