15 Jan US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes
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The House Financial Services Committee has raised concerns over the use of cryptocurrencies to fund domestic terrorism in the United States.
In a Jan. 15 hearing, the FSC Subcommittee on National Security, International Development and Monetary Policy has examined how U.S. financial institutions can combat domestic terrorism, extremism and acts of hate.
Titled “A Persistent and Evolving Threat: An Examination of the Financing of Domestic Terrorism and Extremism,” the hearing featured five witnesses reporting on various fundraising methods used by organized domestic extremists. Particularly, the officials and executives have outlined crypto as an important fundraising tool for hate crimes, emphasizing that criminal funding is often distributed via popular social media platforms like Facebook and Telegram.
Facebook and Telegram help domestic extremists get funding through Bitcoin
Jared Maples, Director of the New Jersey Office of Homeland Security and Preparedness, the first witness…
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