Coinbase Chief Legal Officer (CLO) Paul Grewal is urging the Wall Street Journal (WSJ) to correct its record following recent statements from U.S. Treasury officials affirming that Hamas has not been involved in terrorism via crypto financing. Furthermore, the Coinbase<\/a> CLO expressed that such misinformation could lead to misleading decisions while framing the regulatory framework for crypto.<\/p>\n In a post on X Grewal emphasized Treasury\u2019s stance, stating, \u201cTreasury could not have been clearer that when it comes to illicit finance, cash is king.\u201d Moreover, Coinbase CLO<\/a> attached a video wherein U.S. Congressman French Hill said, \u201cJust yesterday, here in this room, Undersecretary Nelson testified that bad actors still prefer to use traditional finance rather than digital assets.\u201d<\/p>\n <\/p>\n When will we see the record corrected @WSJ<\/a>? 3\/3<\/p>\n \u2014 paulgrewal.eth (@iampaulgrewal) February 15, 2024<\/a><\/p>\n<\/blockquote>\n <\/p>\n Additionally, Grewal referenced successful international collaboration with Israeli law enforcement, quoting Mr. Nelson\u2019s confirmation of prior reports that limited use of crypto by Hamas<\/a> ahead of attacks against Israel. He warned against the spread of misinformation about crypto, asserting, \u201cMisinformation on US-based crypto isn\u2019t just irresponsible \u2013 its potential to sway policy can be dangerous to national security.\u201d<\/p>\n To conclude the thread on X, the Coinbase CLO questioned WSJ and wrote, \u201cWhen will we see the record corrected?\u201d Grewal\u2019s call for correction comes in response to a previous WSJ report that suggested Hamas was involved in crypto terrorism, a claim now contradicted by Treasury statements.<\/p>\n <\/p>\n Also Read: JPMorgan Upgrades Coinbase as Bitcoin Surges<\/a><\/strong><\/p>\n The U.S. Treasury<\/a>\u00a0undersecretary for terrorism and financial intelligence, Brian Nelson, testified before the House Financial Services Committee, asserting that the reported ties between crypto payments and terrorist groups were misconstrued. He stated, \u201cWe don\u2019t expect the number is very high,\u201d referring to the actual amount of crypto assets reaching these groups. Thus, debunking the WSJ data that tens of millions of dollars worth of crypto were used by Hamas for terrorism.<\/p>\n Despite initial claims, Nelson clarified that terrorists primarily rely on traditional financial channels for support. He noted, \u201cTerrorists still prefer, frankly, to use traditional products and services.\u201d Moreover, Representative Tom Emmer pressed Nelson on the issue, prompting him to affirm that the relationship between digital assets and terrorism is not as significant as previously reported.<\/p>\n <\/p>\n Furthermore, Emmer urged the Treasury to formally correct the record, citing concerns about legislative decisions being based on inaccurate information. Nelson emphasized the need for enhanced tools and resources to combat illicit finance in virtual asset markets, expressing a willingness to collaborate with Congress on addressing these challenges.<\/p>\nCoinbase CLO\u2019s Stance On Misleading Data By WSJ<\/h2>\n
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What\u2019s The WSJ & Hamas Crypto Use Controversy About?<\/h2>\n
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