Lawmakers clash on role of crypto in terrorist financing

Members of the House Financial Services Committee clashed Wednesday in Washington over how – and how often – cryptocurrencies are used in illicit financing.

The Financial Services Committee’s Subcommittee on Digital Assets, Financial Inclusion and Inclusion hosted a hearing Wednesday titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” 

Industry leaders, legal minds and financial crime experts gathered to answer lawmakers’ questions on crypto’s role in financing illicit actors, including foreign actors, drug cartels and the terrorist organization Hamas. 

Rep. Stephen Lynch, D-Mass., asked witness Alison Jimenez, president of Dynamic…

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