US Hearing Analyses Cryptos Use in Acts of Hate

• Worries have been shown from the House Financial Services Committee in regards to the utilisation of cryptocurrencies.
• In a hearing that went down yesterday, the FSC Subcommittee on National Security looked into how United States financial companies are going to fight acts of hate.

Worries have been shown from the House Financial Services Committee in regards to the utilisation of cryptocurrencies in order to fund domestic terrorism over in the United States.

In a hearing that went down yesterday, the FSC Subcommittee on National Security, International Development and Monetary Policy looked into how United States financial companies are going to be able to fight back against acts of hate.

As per CT, the hearing included “five witnesses reporting on various fundraising methods used by organized domestic extremists. 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.”

The interesting argument regarding Facebook and Telegram was made by the first witness, Jared Maples of the New Jersey Office of Homeland Security. He said that authorities in the nation need to look more closely at the use of cryptocurrency in the funding of hate.

“We cannot discount the future role of cryptocurrencies in funding acts of domestic extremism, both within New Jersey and across the United States.”

The rise in the price of cryptocurrencies has been often accompanied by an increase of general interest by big institutional investors. At the end of 2017, we saw a lot more people enter the market who probably never even heard of cryptocurrency and get involved with the space. Unfortunately, this includes malicious individuals who wish to push their hateful agenda.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!