The US Treasury has reported minimal use of cryptocurrency to finance Hamas activities. 🇺🇸

According to a US Treasury official, cryptocurrencies play a minor role in financing the operations of groups such as Hamas and Palestinian Islamic Jihad. This contradicts previous allegations of multimillion-dollar sums allegedly being used to finance terrorist activities. 💰💣

Brian Nelson, Under Secretary of the Treasury for Counterterrorism and Financial Intelligence, clarified the situation during testimony before the House Financial Services Committee. He noted inaccuracies in previous reports, citing misinterpretations of funds transferred to these groups. This has led to misunderstanding of the real impact of cryptocurrencies on terrorist financing. 🗂️💼

Blockchain company Elliptic, whose data was mentioned in the report, has adjusted its estimated funding amounts. This highlights the need for a more balanced approach to regulating cryptocurrencies that takes into account their complexity while minimizing potential threats to national security. 🔍📉

This clarification is intended to highlight the importance of preventing the misuse of digital assets by terrorists and to provide appropriate tools to combat this phenomenon. The crypto industry, in turn, continues to express its concerns regarding possible restrictions that could harm the development of the industry. 🛡️💼

This is a reminder of the importance of balance when designing regulatory measures to ensure the safety and stability of financial markets while preserving the innovative potential of cryptocurrencies. 📈✅