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Democrats request Trump to reveal more information on the recent $2 million bitcoin seizure from terrorist organisations

Democrats request Trump to reveal more information on the recent $2 million bitcoin seizure from terrorist organisations
  • Democrats in the United States house have allegedly asked Donald Trump to provide more details on the recent seizure of Cryptocurrency connected to major terrorist organisations.
  • Specifically, United States representatives Josh Gottheimer and Emanuel Cleaver requested that this information be revealed in regards to the seizures.

Democrats in the United States house have allegedly asked Donald Trump, the President of the United States, to provide more details on the recent seizure of Cryptocurrency connected to major terrorist organisations.

Specifically, United States representatives Josh Gottheimer and Emanuel Cleaver requested that this information be revealed in regards to the seizures.

Around a fortnight ago, authorities in the federal government said that they had seized $2 million worth of bitcoin and other critical assets from the accounts of three terrorist organisations. This included Al Qaeda, Isis and Al Qasam.

How these terrorist groups acquired the cryptocurrency is unknown but they use them to buy weapons and train more recruits to fight for their cause. Authorities highlighted that these organisations use Cryptocurrency because they believe the underlying technology would make it easier for them to go about their actions privately and on an anonymous level.

Early this week on the 25th of August, both Cleaver and Gottheirmer asked the Treasury Secretary Steven Mnuchin and attorney general William Barr to give the subcommittee more information in regards to what happened in this operation in the seizure of this Cryptocurrency.

They said:

“It is vital that Members of the Subcommittee on National Security, International Development and Monetary Policy receive a briefing, at the appropriate classification level, on this action, the largest-ever seizure of online terrorist financing, from the Department of Justice, the Department of the Treasury on this investigation.”

The argument of whether cryptocurrencies are used for good or evil is a common topic for the industry. This is a case where digital assets were used for the latter and regulation in this area needs to occur but in order to do that, it would defeat the objective of decentralisation in the overall crypto space.


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

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