REP. JUAN VARGAS’ FIND TRAFFICKING ACT INCLUDED IN NDAA
Washington, D.C. (December 4, 2020)— The House and Senate have agreed to include Rep. Vargas’ (CA-51) bill, H.R. 502 Fight Illicit Networks and Detect (FIND) Trafficking Act, in this year’s National Defense Authorization Act.
Virtual currencies, such as Bitcoin, can be used for legal purchases. However, the anonymity associated with virtual currencies has led them to become a preferred financial payment method for criminal organizations.
“I'm pleased that my bill, the FIND Trafficking Act, was included in the text for this year’s National Defense Authorization Act. Transnational criminal organizations are increasingly using virtual currencies to facilitate drug and sex trafficking,” said Rep. Vargas. “The Find Trafficking Act will require the Comptroller General of the United States to make recommendations to Congress on legislative and regulatory actions to help put an end to these illicit activities.”
The Find Trafficking Act will also require the Comptroller General to conduct studies on how virtual currencies are being used in the "dark web”.
“The data collected will help Congress have a greater understanding of legislative solutions that prevent criminals from using virtual currency for illicit means,” said Rep. Vargas. “I look forward to this bill becoming a law and am committed to working on legislation that ensures the safety and well-being of our communities.”
Vargas represents California’s 51st Congressional District which includes the southern portion of San Diego County, all of Imperial County, and California’s entire U.S.-Mexico border. Vargas was first elected to the U.S. House of Representatives in 2012 and is currently serving his fourth term in Congress. He serves on the House Financial Services Committee and House Foreign Affairs Committee.