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Hearing on Terrorist Financing and Cryptocurrencies

On [Date], a congressional hearing was held to address the growing threat of terrorist financing, with a focus on cryptocurrencies. The committee aimed to understand how to minimize the growth of terrorist financing through cryptocurrencies and ensure that DHS has the necessary tools to combat this issue.

Chairman’s Opening Statement

Representative Thompson (D-MI) emphasized the importance of staying ahead of technological advances in combating terrorism. He noted that cryptocurrency transactions currently account for only 1% of the problem, but highlighted the need to remain vigilant and proactive in addressing this threat.

Goals of the Hearing

The chairman expressed three key goals for the hearing:

  • Minimize growth in terrorist financing through cryptocurrencies: The committee aims to understand how to reduce the use of cryptocurrencies by terrorist organizations.
  • Determine necessary resources for DHS: The chairman hopes to identify what resources DHS needs from Congress to effectively combat terrorist financing and protect the homeland.
  • Assess future expectations: The committee wants to understand what can be expected in terms of progress and challenges going forward.

Relevance of 9/11

The chairman referenced the 20th anniversary of the 9/11 attacks, highlighting the importance of preventing similar attacks from occurring again. He emphasized that the committee is committed to ensuring that DHS has the tools necessary to protect the homeland.

Committee’s Focus

The committee remains focused on ensuring that DHS has the resources and capabilities needed to combat terrorist financing and protect the homeland. By staying ahead of technological advances and addressing this threat proactively, the committee aims to prevent similar attacks from happening again.