Lawmakers Push for Crypto Crackdown, But Evidence of Terrorism Ties is Weak
-
Anti-crypto politicians exploited exaggerated reports of crypto financing terrorism to push restrictive legislation that could crush the crypto industry.
-
Bills like the Terrorism Financing Prevention Act and the Digital Asset AML Act would impose severe regulations that some argue would effectively outlaw crypto.
-
While terrorism financing via crypto exists, the actual amount raised is far less than claimed. Hamas found crypto "inconvenient" and reverted to traditional financing.
-
Regulators see crypto as a terrorism financing threat and are pushing for expanded powers to crack down on illicit crypto activity.
-
The conflict spurred humanitarian crypto fundraising for victims and could stimulate demand for Bitcoin as a hedge against economic instability.