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October 4, 2022
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Congressional subcommittee is investigating the use of BTC in financing the attack on the Capitol –

A U.S. Congressional Subcommittee says cryptocurrencies can be used to finance domestic terrorism. On this issue, there is also the thread of the attack on the Capitol, which took place earlier this year.

Congressional subcommittee has concerns about cryptocurrencies

A US Congressional subcommittee is examining specifically whether US extremists are using cryptocurrencies as a source of funding for their activities.

As part of this, on February 25, the Subcommittee on National Security, International Development and Monetary Policy will conduct a hearing and debate on the financing of illegal terrorist activities. IN memorandum committees, which had been made public prior to the hearing, concluded that “With the increase in controls by traditional banks and payment platforms, extremists are turning to cryptocurrencies.”

The document links cryptocurrencies with other potential ways of financing illegal activities, including crowdfunding, the functioning of criminals under the guise of charities, and social media platforms. Two incidents known to authorities suggest that cryptocurrencies may have helped fund the famous attack on the Capitol.

First, on December 8, the late (he committed suicide) French extremist sent 28.15 BTC (worth $ 522,000 at the time of transfer) to 22 addresses, many of which belonged to well-known far-right activists. Of this, over $ 250,000 went to activist Nick Fuentes, who was later identified as being on the Capitol during the attack.

The second piece of evidence that cryptocurrencies help fund extremists is the Capitol protest broadcast on the Dlive streaming platform. During this time, the streamer received around $ 222 in tips in cryptocurrencies. According to the document, the platform paid a total of the extremists “Hundreds of thousands of dollars since its inception”.

However, what should be added, the authors of the memorandum admit that these two incidents are circumstantial and “it is not known whether the funds from these Bitcoin transfers or other [kryptowalut] were used in the planning and conduct of the January 6 Trump rally or the subsequent attack on the Capitol. ” In other words, it could have been a coincidence.

A haven for criminals?

As you can see, you can still find a narrative in the media that “Cryptocurrencies are a haven for criminals.” But many BTC supporters say it’s a false lead.

Pierre Rochard, an investor in the Bitcoin market, stated on Twitter that “Almost all domestic terrorism arose before Bitcoin was invented. Domestic terrorism is financed by the USD.

Another investor, “Crypto Monk,” added that even Pokemon cards would be better for criminals to pay in Bitcoin due to the ability to track the funds that will be sent through the blockchain.

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