Fud again!
Senator Elizabeth Warren just sent a letter to the White House, saying that in her opinion, crypto could be a threat to national security and could be used to fund terrorists.
Senator Elizabeth Warren and more than 100 United States legislators recently wrote a significant letter to key officials in the White House, including Treasury Under Secretary for Terrorism Brian Nelson and National Security Advisor Jake Sullivan. In the letter, they raise concerns about cryptocurrency's potential role in facilitating terrorism by digging deeper into the financial mechanisms behind it. They highlight reports claiming that Palestinian groups such as Hamas and Islamic Jihad have collected more than $130 million in cryptocurrency donations, which is thought to have contributed to their latest attacks in Israel.
In light of these developments, the authors unequivocally emphasize that Hamas' "deadly attacks on Israeli civilians highlight the national security risks posed by cryptocurrencies for the United States and its allies." This statement not only underscores the urgency of the situation but also reinforces the need for a comprehensive response.
Warren Leads Fight Against Cryptocurrency Abuse.
The letter goes beyond presenting the facts, but also puts pressure on the administration, urging swift and decisive action to "significantly reduce illegal cryptocurrency activity." In addition to Senator Warren, prominent legislators who have expressed doubts about cryptocurrencies, such as Roger Marshall, Sean Casten, and Senate Banking Committee Chairman Sherrod Brown, also support this call for action. Interestingly, several signatures that previously had no public stance on cryptocurrencies also took part.
Additionally, this letter initiates legislative action, encouraging Congress to directly confront the link between cryptocurrencies and terrorism. This emphasizes the need to obtain information about how such attacks are funded and calls into question the steps currently in place to address this emerging threat.
Treasury Eyes Cryptocurrencies in War on Terrorism.
In response to increasing instability, the Treasury Department released a timely statement. In a Deloitte Anti-Money Laundering conference, Brian Nelson confirmed that virtual assets linked to Hamas and the Palestinian Islamic Jihad are under intense scrutiny. Importantly, he emphasized ongoing efforts to increase transparency in the digital currency ecosystem, with the aim of inhibiting illegal activity by entities deemed hostile or involved in criminal acts.
This key message from the Treasury Department reinforces the commitment to actively counter the misuse of cryptocurrencies by extremist groups, thereby strengthening national security measures in the financial sector.
