October 20, 2023
Stricter Verification Laws in the U.S. Won’t Stop International Terrorists from Using Crypto
Recent reporting about Palestinian terrorist groups accessing crypto assets points to an ongoing challenge: Terrorist organizations continue to exploit weak links across the financial system to raise, hide, and disperse funds. Many gaps exist, both with traditional financial actors and some crypto platforms that don’t effectively enforce the clear legal requirements that should keep members of terrorist networks away from their services.
The realm of terrorist financing is always a cat-and-mouse game.
It’s important to note that crypto companies in the U.S. are regulated—and have been since 2013. Exchanges and other financial intermediaries are money service businesses under Bank Secrecy Act regulations, and they’re already required to register with FinCEN and report any suspicious—potentially criminal—activity. U.S. exchanges do AML/KYC checks and screen all potential customers for sanctions. It makes the U.S. safer. In this case, other countries have something to learn from the U.S.
Read the full story and more from Fortune.
More from CNAS
-
Israel's New Rules of War
Commentary
Netanyahu knows that there is no modern world. In the Middle East, there is only the continuation of the ancient. Despite technology, humankind has not morally progressed, eve...
By Robert D. Kaplan
-
The Year of Mourning: Considerations for U.S. Middle East Policy Twelve Months After October 7
Congressional Testimony
Washington should articulate and support a bridging strategy that assists Israelis in taking critical steps in service of their own security, that also support better outcomes...
By Jonathan Lord
-
U.S Approves $20 Billion in Arms for Israel
Video
Jonathan Lord joins i24NEWS and Ambassador Danny Ayalon to discuss the US-Israel relationship, the increased U.S. military presence in the region, and President Biden’s succes...
By Jonathan Lord
-
Making an Iranian attack Tehran’s worst option
Commentary
The Supreme Leader will be less likely to launch a major missile attack if he believes the US military will preemptively strike to defang it....
By Jonathan Lord
