Trump’s policies could aid terrorist and far-right groups who use cryptocurrency to help quietly finance their ends

Summary

Donald Trump’s potential loosening of cryptocurrency regulations as president could benefit extremist groups like neo-Nazis and terrorists who use crypto for anonymous fundraising.

Far-right groups, such as the Base, already solicit Bitcoin and Monero for training and supplies, exploiting crypto’s anonymity to evade financial scrutiny.

While Biden’s administration has cracked down on crypto over national security concerns, Trump’s pro-crypto policies and appointments could accelerate extremist financing.

Analysts warn that weak private sector oversight and a lack of regulatory enforcement enable such activities, raising concerns about future abuse of cryptocurrencies.

  • horse_battery_staple@lemmy.world
    12·
    3 days ago

    I hold XMR and run a couple algos. I fully understand the need for anonymous payment. Crypto has been co-opted by AnCaps and hackers. It’s absolutely appropriate to feel that 90% of crypto are rug pulls and pump and dump shit coins.

      • HappyTimeHarry@lemm.eeEnglish
        3·
        2 days ago

        I’d really love to hear more about why xmr isn’t decentralized or anonymous if you could share more info

        • Aphelion@lemm.ee
          11·
          2 days ago

          Ah never mind, my dislexic and uncaffinated brain read XMR as XRP (Ripple), which isn’t decentralized. Monero does have its uses.