The United States House Financial Services Committee has issued a warning after concluding that Nazis and other domestic terrorists are using bitcoin and crypto to support their activities.
In a hearing held Jan. 15, members of the U.S. House Financial Services Committee addressed the issue of cryptocurrency and its role in funding domestic terrorism.
Congressman Brad Sherman of California (D) claimed that white supremacists were using bitcoin.
He said,
If it works for Hamas, it will work for the Nazis, too.
Jared Maples, the New Jersey Office of Homeland Security and Preparedness Director, said domestic terror groups would likely increase their use of bitcoin and cryptocurrencies in the years to come. Congressional Research Service finance expert Rena Miller and Anti-Defamation League Senior Vice President George Selim supported Maples claim, predicting that the rise in popularity for bitcoin would contribute to its illicit use.
According to the report, Selim noted that neo-Nazi “troll” Andrew Auernheimer has already received great sums of money in donated bitcoin.
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