U.S. Treasury Refutes Crypto’s Dominance in Terrorism Financing
Brian Nelson, the U.S. Deputy Treasury Secretary for Terrorism and Financial Intelligence, conceded in a Congressional hearing that the role of cryptocurrencies in funding terrorism has been overstated.
Brian Nelson, the U.S. Deputy Treasury Secretary for Terrorism and Financial Intelligence, conceded in a Congressional hearing that the role of cryptocurrencies in funding terrorism has been overstated.
In response to a query from Congressman Tom Emmer, Nelson verified the inaccuracy of previous WSJ reports concerning Hamas's funding. Despite this, some senators are still referencing this refuted data.
“We also assess that terrorists still prefer, frankly, to use traditional products and services,” stated Nelson.
Despite this revelation, the Treasury Department is still keen on acquiring more tools and resources to deter the illicit use of digital assets for financing.
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