US Democrats Ask Trump Administration for Details on Terrorist Crypto Seizures

Two U.S. Democrats have asked the Trump administration to provide more information on recent seizures of cryptocurrency from terrorist groups, including ISIS.

• Representatives Josh Gottheimer of New Jersey and Emanuel Cleaver of Missouri made the request Monday, according to The Hill.
• Calling it "the largest-ever seizure of online terrorist financing," the two lawmakers said it is "vital" that members of the Subcommittee on National Security, International Development and Monetary Policy should be briefed on the investigation.
• They requested the Department of Justice (DOJ) and the Department of the Treasury provide the briefing, with the latter also asked to explain its efforts in tackling potential malicious attacks on U.S. finance.
• As for why, Gottheimer and Cleaver explained that this information would help lawmakers develop legislation enabling law enforcement agencies and regulators to "continue to address the illicit use of cryptocurrency and disrupt terrorist organizations."
• As reported on Aug. 13, the DOJ announced the seizure of 300 terrorist cryptocurrency accounts with funds worth in the “millions of dollars.”
• Following an investigation, money-laundering and fundraising efforts involving al-Qaeda, Hamas and ISIS were dismantled, it said.
• Gottheimer told The Hill in a statement that it's important "to stay one step ahead" of foreign terrorist entities that threaten the U.S.

See also: DOJ Indicts Founder of Anti-Money Laundering Bitcoin Project for Money Laundering