mr. jerry brito. mr. brito is a senior research fellow at the mercatus center at the george mason university come and director of the technology, policy program. mr. brito also serves as an adjunct professor of law at george mason university. he is -- his research focus on technology and internet policy, copyright and on the regulatory process. good afternoon and welcome to each of you. you're entitled customers will be made a part of the record it as i said the first group come you are welcome to summarize it if you like and try to keep your comments about seven minutes. if you go way beyond that i will have to range in, otherwise we will be just fine. mr. allen, why don't you stop? >> thank you, chairman carper. as you mentioned, we have launched a digital economy task force with thomson reuters, the global media and information company. that was created as a result of a conference we brought together in june with private sector leaders and government officials to look at this larger problem. the task fo

mr. brito is a senior research fellow at the mercatus center at the george mason university and director of the technology policy program. mr. brito also serves as an adjunct professor of law at george mason university. his research focuses on technology, copyright and the regulatory process. good afternoon to each of you. your entire testimonies will be made part of the record and as i said to the first group you are welcome to summarize if you would like and try to keep your comments at about seven minutes. if you go beyond that i will have to rein you in. otherwise we will be just fine. .. economy task force with thomson reuters, globa media and information company. that was created as this result as a conference we brought together in june with private secreta sector leaders and government officials to look at this problem. the task force on this issue include the bitcoin foundation, the tour project, the gates foundation, brookings institution,cato institute. vital voices, law enforcement

mr. brito? >> there certainly is rod consensus and i was very -- broad consensus and i was very happy to hear the first panel. where there is agreement, i was very interested in listening to the gentleman from the secret service who said that in fact it is centralize currencies that pose the greatest risks as far as money laundering and other illicit uses, and a d centralize currently like bitcoin, because of their nature, was not a greater concern. to pick a point of disagreement, ms. ski sort of -- you take issue that u.s. businesses might move overseas seeking a better regulatory environment, i think her suggestion was that if somebody leaves the u.s. seeking lack of regulatory treatment, they will find it. it will catch up to them. i think the danger is not that somebody who is trying to locate an illicit business is going to use the u.s. the dangerous entrepreneurs looking to buy do not find it regulatory environment that is amenable here. that is something we do not want. >> ok, to i. i wa

mr. brito? >> so i think there certainly is broad consensus among the panel up here, and i was very heartened to hear the first panel's message, and i'll pick two issues just to give you an answer. first, where is there agreement, i was interested in listening to the gentleman from the secret service who said that, in fact, it is centralized currencies that pose the greatest risk as far as money laundering and other illicit uses. and a decentralized currency like bitcoin, because of their nature, were not a greater risk. i think that was of a great point of agreement there. to pick a point of disagreement, ms. shasky sort of took issue with the idea that u.s. businesses might move overseas seeking a better regulatory environment, and i think her suggestion was that if somebody leaves the u.s. seeking lax treatment, they're going to find eventually it's going to catch up with them. and i think the danger is not that somebody who's trying to facilitate an illicit business is going to leave the u.s

mr. brito is also an adjunct policy of law. his focus is on the regulatory process. welcome to each of you the entire testimony will be made part of the record as i said to the first group you're welcome to summarize, if you like, and try to keep your comments about seven minutes. if you go beyond that, i will have to reign you in. otherwise we'll be just fine. >> thank you, chairman, carper. as you mentioned, we have launched a digital economy task force with thomson reuters, globa media and information company. that was created as this result as a conference we brought together in june with private secreta sector leaders and government officials to look at this problem. the task force on this issue include the bitcoin foundation, the tour project, the gates foundation, brookings institution,cato institute. vital voices, law enforcement leaders from around the world and many others. our goal is to bring people together and work toward reasonable balanced effective solutions that protect the promise of the digital economy while addressing its misuse. and our task for

mr. brito is also an adjunct policy of law. his focus is on the regulatory process. welcome to each of you the entire testimony will be made part of the record as i said to the first group you're welcome to summarize, if you like, and try to keep your comments about seven minutes. if you go beyond that, i will have to reign you in. otherwise we'll be just fine. >> thank you, chairman, carper. as you mentioned, we have launched a digital economy task force with thomson reuters, globa media and information company. that was created as this result as a conference we brought together in june with private secreta sector leaders and government officials to look at this problem. the task force on this issue include the bitcoin foundation, the tour project, the gates foundation, brookings institution,cato institute. vital voices, law enforcement leaders from around the world and many others. our goal is to bring people together and work toward reasonable balanced effective solutions that protect the promise of the digital economy while addressing its misuse. and our task for