Topic: [2017-12-11] Britain’s GCHQ Spy Agency Is Closely Monitoring Bitcoin (Read 1037 times)

Britain’s GCHQ Spy Agency Is Closely Monitoring Bitcoin

GCHQ, the British equivalent of the NSA, is closely monitoring bitcoin at the behest of its government. The code-cracking agency, famous for deciphering German communications via its Enigma machine in World War II, now has a new threat to track. Like many other government agencies around the world, it has taken a keen interest in bitcoin.

The UK’s GCHQ is Watching BTC

Government Communications Headquarters, better known as GCHQ, was founded in 1919 and, in its own words, has been “keeping Britain safe ever since”. In 2015, it emerged in the leaked Snowden documents that this remit included collecting information from “every visible user on the internet”, hacking into smartphones using a tool named “Smurf suite”, and eavesdropping on the communications of British politicians.

It’s safe to say that bitcoin isn’t new to GCHQ. The agency has taken a renewed interest in the virtual currency though in recent months following bitcoin’s stellar ascent which has taken many people by surprise. Chris Ensor, the deputy director for GCHQ’s National Cyber Security Centre division, told The Telegraph that British government departments have ordered it to investigate security risks posed by bitcoin. He said:

We are interested in anything that could affect the country, so Bitcoin is a major thing now.
The agency is reportedly exploring bitcoin from various angles, including how it works, the possible benefits of harnessing its blockchain technology, and the possible threat it poses to the country’s monetary system. Like everyone who’s new to bitcoin, many British politicians are intrigued by the currency, but are also wary.

source: https://news.bitcoin.com/britains-gchq-spy-agency-closely-monitoring-bitcoin/