- US House Financial Services Committee members believe cryptos’ secrecy and security let terrorists operate in the country.
- They noted several cases of neo-Nazi individuals receiving donations or using crypto that let them operate throughout the US.
The US House Financial Services Committee held a hearing this Wednesday, where the topic of cryptocurrencies was addressed. US Congressman Brad Sherman stated that cryptocurrencies’ secrecy and security allows terrorists to fund their operations in the States. He explicitly stated that white supremacists are using Bitcoin. He said:
If it works for Hamas, it will work for the Nazis, too.
Similar concerns were also raised by the New Jersey Office of Homeland Security and Preparedness Director, Jared Maples and Rena Miller, the finance expert at Congressional Research Service. According to Maples, Hamas choose coins due to their privacy and secrecy and Andrew Anglin, The Daily Stormer, received a donation of $60,000 BTC post the attack on Charlottesville, Virginia.
The members also made a note of several cases of neo-Nazi individuals receiving donations or using crypto that let them operate throughout the US. George Selim, Anti-Defamation League Senior Vice President, said that Nazi websites like “Stormfront” rely on these donations. However, the members agreed that though it’s essential to fight the terror groups, it’s also important to be mindful of crypto users’ privacy who aren’t related to these groups.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
![Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength](https://editorial.fxsstatic.com/images/i/crypto-coins-1_Medium.png)
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength
Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days. Ethereum (ETH) and Ripple (XRP) prices stood relatively stronger and have gained nearly 3% and 7%, respectively, this week.
![Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook](https://editorial.fxsstatic.com/images/i/BTC-bearish-animal-1_Medium.png)
Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook
Bitcoin (BTC) and top cryptos halted their declines following a pause in President Donald Trump's reciprocal tariff plans, which were originally scheduled to go live on Thursday.
![Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing](https://editorial.fxsstatic.com/images/i/RIPPLE_Medium.png)
Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing
Ripple's XRP is up 4% in the early hours of Friday following the Securities and Exchange Commission (SEC) acknowledgment of Grayscale's 19b-4 filing to convert its XRP Trust to an ETF.
![200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?](https://editorial.fxsstatic.com/images/i/XRP-neutral-object_Medium.png)
200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?
Ripple (XRP) price consolidated around $2.40 on Thursday, up 11% since Monday, technical indicators suggest Stellar (XLM) has joined the rally.
![Bitcoin: BTC consolidates before a big move](https://editorial.fxsstatic.com/images/i/BTC-neutral-object_Medium.png)
Bitcoin: BTC consolidates before a big move
Bitcoin's (BTC) price has been consolidating between $94,000 and $100,000 for the last ten days, and, when writing on Friday, it hovers around $97,000. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $650.80 million until Thursday, hinting signs of weakness among institutional investors.
![The Best Brokers of the Year](https://editorial.fxsstatic.com/images/Brokers/Editors_Pick_Box_395x179_Medium.png)
The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.