Regardless of what some have been led to imagine, “cryptocurrency isn’t the foreign money of selection for criminals,” in response to Perianne Boring, CEO of the Chamber of Digital Commerce.
Writing in an opinion piece within the Wall Avenue Journal on Monday, Boring hit again on the accusations made by the identical newspaper earlier this month that Palestinian terror group Hamas “have raised thousands and thousands in crypto.”
In response to Boring, teams like Hamas, Palestinian Islamic Jihad and Hezbollah have raised cash by numerous means, together with the usage of conventional banking companies, hawala networks, and state funding, whereas crypto makes up solely “a small portion of that.”
The Chamber of Digital Commerce CEO additional mentioned that legislation enforcement companies are skilled to trace actors that use crypto for illicit functions, and famous that their job doing so have turn into simpler because of the clear nature of blockchain networks.
“Whereas new applied sciences are sometimes exploited by unhealthy actors, they usually function extra worthwhile instruments for legislation enforcement than for criminals. The blockchain makes concealing illicit funds by cryptocurrencies ineffective,” Boring mentioned, earlier than concluding:
“The document should mirror that cryptocurrency isn’t the foreign money of selection for criminals.”
