The Currency Analytics
By TCA PR
Foreign Terrorists Used Facebook and Telegram to Get Funding Through BTC
Cryptocurrency Businesses Enforce Sweeping the Anti-Hate Policies, Maples Noted
Experts Claim That Cryptocurrency Is A Poor Form of Money
In January 15 hearing, the US House Financial Services Sub-Committee on National Security, International Development and Monetary Policy analyzed how the US financial…
The said hearing is in connection to the US House Financial Services’ concerns about the cryptocurrencies being used to finance domestic terrorism in the US.
According to NJ Homeland Security and Preparedness Director Maples, the domestic terrorists discovered value in masked movements and security of BTC and other cryptocurrencies.
Maples said, “they’re seeing the effectiveness of being able to mask those movements.”
“As cryptocurrency becomes more prevalent and the technology becomes easier to adopt and use, we do believe we’ll see more of that in the domestic terror realm,” he further said.
Being one of the five witnesses to address the issues in the hearing, Maples pointed out the US authorities need to look closely to the use of cryptocurrencies in financing acts…
On his prepared remarks, Maples wrote, “we cannot discount the future use of cryptocurrencies as a means to fund acts of domestic extremism within New Jersey and across the…
Maples noted that some foreign terrorist groups have utilized Facebook and Telegram for soliciting funds through BTC.
During the hearing, Maples also noted that there are some crypto businesses like Coinbase that impose sweeping the anti-hate policies.
Anti-Defamation League Senior Vice President George Selim wrote in his testimony that, “cryptocurrencies are not a panacea for white supremacists’ money transfer difficulties.”
Meanwhile, Representative Juan Vargas asked Maples’ opinion on how governments can combat the cryptocurrency trend.
Maples answered, “we have to put stringent oversight in place.” He specified that it would include making sure that everyone is aware of the potential risks around…