Tom Emmer Criticizes U.S. Treasury’s Mishandling of Crypto Terrorism Claims
House Majority Whip Tom Emmer recently called out the U.S. Treasury Department for its failure to address Senator Elizabeth Warren’s false claims about crypto terrorism financing. Emmer highlighted the department’s oversight in not correcting the misinformation earlier, which has caused significant harm to the reputation of the crypto industry.
Emmer stated that the Treasury had accurate data all along but failed to set the record straight until it was too late. This misinformation has fueled Warren’s anti-crypto campaign and has given momentum to her proposed legislation, the Digital Asset Anti-Money Laundering Act.
Debunking Warren’s Claims
Despite Warren’s efforts to tarnish the crypto industry’s image, her claims have faced opposition from some Senate members. Additionally, U.S. Treasury officials have refuted Warren’s allegations of crypto being used for terrorist attacks in the Middle East, providing relief to the crypto community.
The Revelation at the House Financial Services Committee Hearing
During a House Financial Services Committee hearing, Emmer questioned Brian Nelson, an undersecretary at the Treasury Department, about the accuracy of claims linking digital assets to terrorist funding. Emmer’s inquiry was prompted by a Wall Street Journal report that initially claimed terrorist groups had received over $100 million in cryptocurrency payments.
However, corrections to the data revealed a significantly lower figure of $12 million. Nelson testified that terrorists still prefer traditional financial channels over digital assets for their funding activities. Emmer criticized the Treasury’s mishandling of the case in light of Nelson’s revelations.
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