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house Bill H.R. 502

Should the Feds Investigate the Use of Cryptocurrencies in Sex & Drug Trafficking?

Argument in favor

Sex and drug trafficking are serious crimes and it makes sense for the federal government to investigate whether cryptocurrencies are being used to facilitate them.

Dave's Opinion
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01/27/2019
This bill would direct the Government Accountability Office (GAO) to report on the use of virtual currencies and online marketplaces in sex and drug trafficking. It all about following the money, no matter what form it is, including kick backs!
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Krista's Opinion
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01/27/2019
Anything and everything related to human trafficking should be up for investigation. Why is this even a question?!
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Gopin2018's Opinion
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01/27/2019
I’m in full support of and recommend passage of this bill as written. Prostitution and sex trafficking is the oldest profession. Protecting those who are vulnerable is always right and those who can’t defend themselves no matter their age or social standing. #MAGA #BuildTheWall
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Argument opposed

Cryptocurrencies aren’t the main medium of exchange for sex and drug trafficking, cash is. This report could serve as a pretext for excessive regulation of cryptocurrencies.

Ian's Opinion
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01/27/2019
If you don’t tackle the environment right now, and exclusively, everything else will be pointless.
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Rebekah's Opinion
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01/27/2019
I would be in full support of this if it weren’t for the anti-sex worker undertones. Human trafficking and sex slavery is a big issue but this just feels like a slippery slope.
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Jared's Opinion
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01/27/2019
I do not think we understand the function of cryptos just yet. Passing legislation that would clash with the general purpose of most of these coins is a slippery slope. Yes, stopping stopping sex traffickers is a must, but giving up a measure any measure of freedom with something that could eventually help us with privacy issues in the virtual world moving forward is an overreaction. If we are going to start passing legislation on crypto, we should also be taking the time to learn more about what it is and what it could actually become.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed January 28th, 2019
    Roll Call Vote 412 Yea / 3 Nay
      house Committees
      Committee on Financial Services
    IntroducedJanuary 11th, 2019

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Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
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Title

FIND Trafficking Act

Official Title

To require the Comptroller General of the United States to carry out a study on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking, and for other purposes.

Summary

Fight Illicit Networks and Detect Trafficking Act or the FIND Trafficking Act This bill directs the Government Accountability Office (GAO) to report on the use of virtual currencies and online marketplaces in sex and drug trafficking. The GAO must study topics including how illicit proceeds are transferred into the U.S. banking system, state and non-state actors that participate in such activity, preventative efforts from federal and state agencies, and the extent to which the unique characteristics of virtual currencies can contribute to the tracking and prosecution of illicit funding.
    This bill would direct the Government Accountability Office (GAO) to report on the use of virtual currencies and online marketplaces in sex and drug trafficking. It all about following the money, no matter what form it is, including kick backs!
    Like (31)
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    If you don’t tackle the environment right now, and exclusively, everything else will be pointless.
    Like (30)
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    🤔👍🏻 H.R. 502 AKA the FIND Trafficking Act 👍🏻🤔 I’m in full support of and recommend the passage of the HOUSE bill H.R. 502 AKA the FIND Trafficking Act Which would direct the Government Accountability Office (GAO) to report on the use of virtual currencies and online marketplaces in sex and drug trafficking. The GAO would be required to report on how illicit proceeds are transferred into the U.S. banking system; state and non-state actors that benefit from or participate in such activity; and preventative efforts from federal and state agencies. Sex and drug trafficking are serious crimes and it makes sense for the federal government to investigate whether cryptocurrencies are being used to facilitate them. SneakyPete.......... 👍🏻 Why Not 👍🏻. 1*27*19..........
    Like (23)
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    Anything and everything related to human trafficking should be up for investigation. Why is this even a question?!
    Like (21)
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    I would be in full support of this if it weren’t for the anti-sex worker undertones. Human trafficking and sex slavery is a big issue but this just feels like a slippery slope.
    Like (16)
    Follow
    Share
    I do not think we understand the function of cryptos just yet. Passing legislation that would clash with the general purpose of most of these coins is a slippery slope. Yes, stopping stopping sex traffickers is a must, but giving up a measure any measure of freedom with something that could eventually help us with privacy issues in the virtual world moving forward is an overreaction. If we are going to start passing legislation on crypto, we should also be taking the time to learn more about what it is and what it could actually become.
    Like (16)
    Follow
    Share
    I’m in full support of and recommend passage of this bill as written. Prostitution and sex trafficking is the oldest profession. Protecting those who are vulnerable is always right and those who can’t defend themselves no matter their age or social standing. #MAGA #BuildTheWall
    Like (15)
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    We absolutely must investigate anything that is related to sex and drug trafficking.
    Like (10)
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    Yes. If we are investigating Sex and human trafficking, it should not matter what currency is being used. However, since there is some concern with Cryptocurrency and how it may be used for illegal activities, it should be documented and reported to the appropriate departments and agencies, so it can be better monitored and tracked.
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    Investigate the use of the dollar in the confirmed deaths of 2 million Yemeni children. Let's get that 500-year-old sequoia out of government's eye first.
    Like (5)
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    Investigate the Fed's role in devaluing the dollar, increasing wealth inequality, and causing multiple economic recessions, starting with the Great Depression.
    Like (4)
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    I absolutely support the passing of this bill!
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    We must do what we can to protect people in drug and sex trafficking. Removing trackless ways to pay is a good start. Maybe find some the big names in theses illicit businesses.
    Like (3)
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    Yes, absolutely. Untraceable money will always be used for illicit/illegal purposes.
    Like (3)
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    It shouldn’t even be a question if it’s any illegal activity regardless of type of funds it needs to be investigated.
    Like (3)
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    To stop trafficking and such crimes by tracking financial transactions in cryptocurrency and all financial systems is worthwhile.
    Like (3)
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    What exactly is the evidence that is needed before you begin such an investigation. It appears the crypto currency‘s or competitive to US currency is this the real reason?
    Like (3)
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    If we have the means to investigate crimes we need to do it.
    Like (3)
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    This bill is a pointless do-nothing statement about investigating the obvious. Let's have some real, productive action instead of political grandstanding.
    Like (3)
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    Is it a crime, if so, investigate
    Like (2)
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