Recent clarifications from U.S. Treasury Department officials, including statements that "terrorists still prefer frankly to use traditional products and services" and "Hamas is using crypto in relatively small amounts", have debunked earlier reports suggesting that Hamas heavily relied on cryptocurrency for terrorism financing. In a notable exchange, Congressman Emmer prompted the Head of FinCEN to acknowledge the inaccuracies in a Wall Street Journal article about crypto being used to fund Hamas, highlighting that terrorists prefer traditional money-moving services. Despite this, there are calls for increased authority to regulate digital assets in this context, as reported by @jesseahamilton. This development was covered differently across media outlets, with @ForbesCrypto being recognized for its accurate portrayal of the situation from the outset.
📣 Latest News: Crypto played little part in Hamas terror financing — US Treasury #news #cryptonews #crypto #regulations
Anyone notice that @ForbesCrypto was the only mainstream outlet to cover the Hamas/crypto story correctly? 👀 This article turned heads when it was first published. It directly defied the conventional narrative crystallizing around Hamas and crypto. And everything in it was…
A top U.S. Treasury Department official countered earlier reports that Hamas relied heavily on crypto for terrorism funding. But he still asked for more power to limit the use of digital assets in that sphere. @jesseahamilton reports https://t.co/KThpt2hCwM
JUST IN: Congressman Emmer gets the Head of FinCEN to admit that the WSJ article about crypto being used to fund Hamas was inaccurate and that terrorists prefer to use traditional services to move money 👀😮 https://t.co/M3MmN1mcDa
On Bitcoin NOT being used for terrorism: "We also assess that terrorists still prefer frankly to use traditional products and services" "Hamas is using crypto in relatively small amounts compared to what has been reported" https://t.co/9wIVfj69Ns