On Monday, two Democratic officials asked the Trump administration to provide more information about the cryptocurrency recently seized by terrorists.
According to an August 26th report by The Hill, the request relates to millions of dollars in cryptocurrency assets that the US Department of Justice confiscated from several terrorist organizations. Participating organizations included Al Qaeda, ISIS, Hamas and Al Qassam.
The proposal was made by Emmanuel Cleaver – Chair of the House Subcommittee on National Financial Services on National Security, International Development, and Monetary Policy – and Subcommittee member Josh Gotheimer. Together, they asked Treasury Secretary Stephen Mnuchin and Attorney General William Barr for information about the process. Your request is:
“It is important that the members of the Subcommittee on National Security, International Development and Monetary Policy are informed of the appropriate classification level by the Ministry of Justice and the Ministry of National Security regarding this measure, which is the largest seizure of terrorists online funded so far, the Ministry of Finance in this test.”
In addition, the Treasury Department is asking the Treasury to provide an evaluation of its efforts to combat malicious actors trying to target the United States’ financial systems.
The document states that this information is essential to understanding the type of regulation required to curb the illegal use of cryptocurrencies:
“This will inform the Subcommittee of the legislative action we must take to provide regulators and law enforcement agencies with appropriate resources and tools to continue suppressing the illegal use of cryptocurrencies and disrupting the financial networks of terrorist organizations.”