U.S. Treasury Admits Wall Street Journal Reported Misleading Numbers on Bitcoin Use By Militant Groups
Treasury's Under Secretary for Terrorism and Financial Intelligence Brian Nelson confirmed that Hamas and other militant groups still prefer traditional means of finance during a House Financial Services Committee hearing on Wednesday.
- "Today, I asked Treasury's Head of FinCEN and OFAC about the WSJ's reporting on Hamas's digital asset fundraising campaign. Undersecretary Nelson CONFIRMED, on the record, that the WSJ's numbers were inaccurate and that crypto was not even a popular tool for Hamas terrorists," Congressman Tom Emmer said on X.
"Senators are writing legislation based on the Wall Street Journal's inaccurate reporting. Since Treasury has accurate data, it has an obligation to correct the record on the size of Hamas's digital asset fundraising efforts," he added.
- "We don't expect the number is very high," said Brian Nelson when asked about the amounts of digital assets raised by the militant groups. "We also assess that terrorists still prefer, frankly, to use traditional products and services."
Today, I asked Treasury's Head of FinCEN and OFAC about the WSJ's reporting on Hamas's digital asset fundraising campaign.
— Tom Emmer (@GOPMajorityWhip) February 14, 2024
Undersecretary Nelson CONFIRMED, on the record, that the WSJ's numbers were inaccurate and that crypto was not even a popular tool for Hamas terrorists. pic.twitter.com/Y2nSJfe3Lk
- The misleading report by WSJ ignited far-reaching discussions and even radical policy proposals aimed at curtailing private use of bitcoin and other crypto assets.
