Bloomberg Law: Misunderstanding Crypto and Terror Financing Leads to Bad Policy
O’Melveny partner Brian Brooks and former US Comptroller of the Currency co-authored this article with Sujit Raman, chief legal officer of TRM Labs and a former US Associate Deputy Attorney General, discussing how Crypto’s public features make it less attractive for illicit financing than traditional banking.
The US House Committee on Financial Services held three hearings following Hamas’ alleged use of cryptocurrency to fund terrorist activity. This article addresses misconceptions surrounding its potential exploitation including primary contribution sources for criminals and terrorists, crypto record and reporting requirements, their capacity for secret transactions, and compliance monitoring currently in place across the global crypto sector.
Read the full article here.
