The Senate Banking Committee convened to discuss the risks of digital currency in relation to terrorism financing, particularly in light of the Israel-Hamas conflict. Senator Lummis shed light on the issue. Senator Sherrod Brown, chair of the committee, stated that they will examine multiple terrorist funding streams, including cryptocurrency. The United States expressed concern that some digital asset firms are not doing enough to prevent illicit finance. U.S. Treasury Deputy Secretary Adeyemo emphasized that cryptocurrency is not the primary way terror groups are funded. Adeyemo also warned crypto firms about illicit financial flows.
ICYMI: US says some crypto firms are neglecting to stop illicit finance flows https://t.co/96xaOWup2s
NEWS: Treasury’s Wally Adeyemo warned crypto firms that “if they do not act to prevent illicit financial flows,” the US will https://t.co/li69BaZcq7
Money laundering: how cryptocurrency companies in Estonia conceal fraudulent activities https://t.co/HGRUOTQQg3 https://t.co/yRgbybs53J
"Today, I would say that the use of crypto is not the vast majority of the ways that these groups are funded,” @TreasuryDepSec said during an event at @RUSI_org today. Read more below: https://t.co/BUSsGxcqPf
US Deputy Treasury Secretary Warns About Illegal Financial Flows https://t.co/Hys2CVL8SV
Crypto ‘Not the Vast Majority’ of Terrorism Funding, Says US Treasury Deputy Secretary ► https://t.co/q4fqedg93y https://t.co/q4fqedg93y
US says some crypto firms are neglecting to stop illicit finance flows https://t.co/ZrGh0dfP90
US says some digital asset firms not doing enough to stop illicit finance https://t.co/CCqsvEbczu https://t.co/mUuMXACADI
The United States on Friday said some firms in the digital asset space were not doing enough to stop the flow of illicit finance. #UnitedStates | #Finances |#Terrorism https://t.co/qBfyyTGIUi
U.S. Treasury Deputy Secretary states: Crypto is NOT how terror groups are funded! 🫡
U.S. TREASURY DEPUTY SECRETARY ADEYEMO: USE OF CRYPTOCURRENCY IS NOT THE VAST MAJORITY OF THE WAY TERROR GROUPS ARE FUNDED - RTRS
ICYMI: Sen. Sherrod Brown calls for crackdown on use of crypto to fund terrorism https://t.co/eXDmeEeBZs
Ohio’s @SenSherrodBrown, chair of @SenateBanking, says the committee will “examine multiple terrorist funding streams, including cryptocurrency,” despite reports showing crypto financing of terrorism may be greatly overstated. By @jesseahamilton @amitoj https://t.co/AMmc3QErKY
This morning, the Senate Banking Committee convened to discuss risks surrounding digital currency and how it could play a role in terrorism around the globe, especially in light of the Israel-Hamas conflict. @SenLummis sheds light on the issue: https://t.co/z0a00sYKI0