Regardless of what some have been led to imagine, “cryptocurrency isn’t the forex of alternative for criminals,” based on Perianne Boring, CEO of the Chamber of Digital Commerce.
Writing in an opinion piece within the Wall Road Journal on Monday, Boring hit again on the accusations made by the identical newspaper earlier this month that Palestinian terror group Hamas “have raised tens of millions in crypto.”
In keeping with Boring, teams like Hamas, Palestinian Islamic Jihad and Hezbollah have raised cash via numerous means, together with the usage of conventional banking providers, hawala networks, and state funding, whereas crypto makes up solely “a small portion of that.”
The Chamber of Digital Commerce CEO additional mentioned that regulation 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 dangerous actors, they usually function extra precious instruments for regulation enforcement than for criminals. The blockchain makes concealing illicit funds via cryptocurrencies ineffective,” Boring mentioned, earlier than concluding:
“The report should mirror that cryptocurrency isn’t the forex of alternative for criminals.”
