Reps. Cleaver & Gottheimer Call for Bipartisan Briefing Following Seizure of Cryptocurrency Assets From Foreign Terrorist Organizations

(Washington, D.C.) – Yesterday, United States Representatives Emanuel Cleaver, II (D-MO), Chairman of the House Financial Services Subcommittee on National Security, International Development, and Monetary Policy (NSIDMP), and Josh Gottheimer (D-NJ) called for the Department of Justice (DOJ) and Department of Treasury (DOT) to immediately brief the NSIDMP Subcommittee following the seizure of millions of dollars' worth of cryptocurrency from Foreign Terrorist Organizations.

In a letter to the agencies, the lawmakers wrote:

"It is vital that Members of the Subcommittee on National Security, International Development and Monetary Policy receive a briefing, at the appropriate classification level, on this action, the largest ever seizure of online terrorist financing, from the Department of Justice, the Department of the Treasury on this investigation."

In addition to an immediate briefing, the representatives are also calling for DOT to provide an assessment of how it is working to proactively confront and curtail these malign actors within our financial networks. This will further inform the Subcommittee on what legislative actions they should be undertaking to provide regulators and law enforcement the proper tools and resources to continue to address the illicit use of cryptocurrency and disrupt terrorist organizations' financial networks.

Last year, the House of Representatives passed H.R. 2514, the Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act (COUNTER), a bill introduced by Congressman Cleaver that would implement a number of changes and additions to the to the Bank Secrecy Act (BSA), which dictates banks' responsibilities to help the government detect and root out illegal financial transactions.

You can find the official letter from the lawmakers here.

Emanuel Cleaver, II is the U.S. Representative for Missouri's Fifth Congressional District, which includes Kansas City, Independence, Lee's Summit, Raytown, Grandview, Sugar Creek, Blue Springs, Grain Valley, Oak Grove, North Kansas City, Gladstone, Claycomo, and all of Ray, Lafayette, and Saline Counties. He is a member of the exclusive House Financial Services Committee; Chairman of the House Subcommittee on National Security, International Development, and Monetary Policy; member of the Select Committee on the Modernization of Congress; member of the Committee on Homeland Security; and a Senior Whip of the Democratic Caucus. For more information, please contact Matt Helfant at 202-590-0175 or Matthew.Helfant@mail.house.gov A high-resolution photo of Congressman Cleaver is available here.