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01 April 2020

US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes

US Congress Looks at Role of Crypto and Internet in Funding Hate Crimes

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financial institutions can combat domestic terrorism, extremism and acts of hate.

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.

Projecting that organized domestic extremists will continue to fund their activities via crypto alongside selling counterfeit goods, drug and weapon trafficking, cigarette smuggling, Maples called Congress to not ignore the industry as a source of funding hate crimes in the U.S.:.

As the study also outlined the role of social media and crypto for these domestic extremists, Miller suggested that the U.S.

The executive concluded that Congress should fund a significant study into how crypto is used in funding domestic hate crimes.

is trying to address all possible terrorist financing loopholes against the backdrop of disturbing rise of domestic terrorism and hate crimes, some experts claim that crypto is “poor form of money” for terrorists.

Congress concluded that terrorist groups that attempted to raise funds via crypto have not had great success.

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