Cryptocurrency should have created transparency with digital tracking of all uses and owners, but the process of its use has made it possible to instead obscure those very facts.
Hamas has used millions of dollars in cryptocurrency to fund their activities, including the acquisition of weapons used in the terrorist attack on Israel last week, according to reports. "I think criminals have kind of figured this out from an early stage, and it's why we've seen a proliferation in terms of supporting illicit finance," Elaine Dezenski, senior director of the Center on Economic and Financial Power at the Foundation for Defense of Democracies told FOX Business.
The challenge comes with the way that the coins move through these systems where, for example, you can move your cryptocurrency through a mixer, which basically splits out a transaction to $10 going through… it could split it into multiple smaller pieces, making it difficult to track where those smaller bits go," she explained.
The reality is something different, which is the way that these systems have developed," Dezenski lamented. "There are many different ways to shroud these transactions in opacity, which make it much more difficult." The only way to tackle this issue, according to Dezenski, is to figure out what relationship the U.S.
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