Cleaver’s Cryptocurrency Concerns

Congressman Emanuel Cleaver, II (D-MO) sent letters to the Bitcoin Foundation and the Chamber of Digital Commerce asking them to do more to prevent extremist groups from using cryptocurrency to fund campaigns of hate and violence. Following the white supremacist rally in Charlottesville, VA last year, digital payment companies have worked to prevent their platforms from being utilized by hateful or violent extremists. Many of these far-right groups have increasingly relied on Bitcoin and other cryptocurrencies. White supremacy leaderRichard Spencer has stated that “Bitcoin is the currency of the alt-right.” Cleaver wrote that "[i]t is clear to me that cryptocurrency technology has the opportunity to play an influential role in finance as technology evolves. However, we must be diligent in ensuring this technology is not being used to support groups that wage campaigns of hate, abuse, anti-Semitism, discrimination, or violence.” See the letters here and learn more here.

Brenda Arredondo