BitFury names Jason Weinstein to Advisory Board

Bitfury has named Jason Weinstein, former Deputy Assistant Attorney General, to the board of strategic advisors.

As reported by the Wall Street Journal, he will act as a regulatory and law enforcement liaison for the company. Weinstein is a partner at Washington, DC-based law firm Steptoe & Johnson LLP at present, and will serve in a private capacity while continuing his work at the law firm.

During an interview with the Journal, Weinstein spoke positively about bitcoin's open transaction ledger and its potential role in law enforcement, and said, "The glass-half-empty view of the blockchain is that this is anonymous and we are never going to be able to track criminals, but the glass-half-full view is there is traceability and a real advantage in having every transaction in the history of the currency available."

He further added that there is a need for a deeper look into the bitcoin industry in order to root out the "bad actors" in the system.

"It is in everyone's interest for bad actors that use a new technology to be rooted out so that everyone else can enjoy the fruits of that technology," he said.

BitFury CEO Valery Vavilov said that Weinstein's addition to the company's strategic board will certainly give it an edge in Washington.

"We are excited to add Jason Weinstein to our advisory board," he said in a statement. "Mr. Weinstein's extensive expertise in cybercrime is invaluable."