Bitcoin 'Specifically Referenced' In Suspected Child Exploitation Activities: US Treasury

The U.S. Treasury Department has its eyes on Bitcoin as it tracks down actors using the decentralized cryptocurrency in activities related to human trafficking and child exploitation. (Credit: AFP)

KEY POINTS

• Bitcoin was found to have been used in obtaining child sexual abuse material
• The US Treasury also warned in a recent money laundering report of AECs being used to hamper illicit fund investigations
• A Treasury official is set to ask for more authority from lawmakers to rein in actors using crypto in their illicit activities

Bitcoin is the favored payment means for suspected human traffickers and child exploiters, according to a report by the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) released Tuesday.