During last year’s terrorist attacks in Israel, crypto was quickly blamed for funding the violence. Critics, however, have challenged this claim, pointing to a lack of substantial evidence. A key testimony from Brian Nelson, the US Department of the Treasury’s Undersecretary for Terrorism and Financial Intelligence, has further shifted the narrative.
Nelson clarified to lawmakers that the role of crypto in terrorism financing has been overstated. The Wall Street Journal initially linked substantial crypto payments to groups like Hamas. This was based on misinterpreted data from Elliptic, a blockchain analytics firm. However, subsequent data from Elliptic painted a different picture, leading to a revised report.
Taken from: https://beincrypto.com/us-treasury-clears-crypto-terrorism-financing/
(https://static.news.bitcoin.com/wp-content/uploads/2024/02/crypto-not-popular-tool-for-terrorists.jpg)
I am sure that this good news for the whole cryptocurrency industry so that we can clear once and for all this wrong misconception that crypto is a big financing medium for terrorist everywhere. While we must not deny that crypto can be used, the majority of the money are still done the traditional way using fiat. so instead of focusing on crypto making so strict regulatory measures, why not lawmakers focus on fiat instead? Many of the assumed biases on cryptocurrency in general and Bitcoin in particular are now starting to crumble against the facts and realities presented to us including this terrorist tag and the famous "Bitcoin is anti-environment" narrative.