A subcommittee of the US Congress is investigating whether domestic extremists are turning to cryptography as a source of funding for their activities.

The 25th. In February, the Subcommittee on Homeland Security, International Development and Monetary Policy will hold a hearing entitled Dollars against Democracy : Domestic terrorist financing in the postwar era. According to a committee memorandum revealed on the eve of the hearing, extremists are turning to cryptocurrency as traditional banks and payment platforms increase their control.

The memorandum combines cryptocurrencies with other possible means of funding illegal activities, including crowdfunding, charities and social media platforms. Two key incidents are used to suggest that cryptography helped fund the Capitol Rebellion.

The French extremist who committed suicide sent 15 BTCs (worth $522,000 at the time of transfer) to 22 addresses on 8. 28 December, many of which belonged to prominent far-right activists and internet personalities.

More than $250,000 of the BTC money he sent went to activist Nick Fuentes, who was determined to have been present during the riots on Capitol Hill, although he categorically denies entering the building.

Another source cited in the memo was a live video of the Capitol event on the video platform Dlive, where the streamer received approximately $222 in cash cryptology tips. According to the document, the platform has paid hundreds of thousands of dollars to extremists since its inception. The platform was acquired by the peer-to-peer file sharing service BitTorrent, which in turn is owned by the Tron Foundation.

However, the memo acknowledges that both incidents are circumstantial and that it is not known whether funds from these or other Bitcoin transfers were used to plan and execute the 6. January or the subsequent uprising on Capitol Hill was used.

The committee believes that insurgents are likely to turn to non-traditional methods to finance their activities in the future, given the increase in reports of suspicious activity under traditional financing. He added that some arrests were made in connection with the attack on 6. January due to the reporting methods of banks and other regulated financial institutions were successful.

Using the story of the cryptocurrency, the criminal’s refuge, remains important.

Pierre Rochear, the influential author of Bitcoin, responded to the note on Twitter by stating that almost all domestic terrorism occurred before Bitcoin was invented. Domestic terrorism is funded by the United States.

The investor, who calls himself the Crypto Monk, said that even Pokemon cards would be better than Bitcoin for payments because of the cryptocurrency’s ability to track funds.

I’d literally rather accept Pokemon cards than hand out a big book.

– The cryptologist monk ⛩️ (@thecryptomonk) February 23, 2021

Related Tags:

Privacy settings,How Search works,new cryptocurrency