Crypto Could Become ‘The Next Frontier’ In The War On Terrorism: US Treasury

The United States Treasury undersecretary was recently featured on many best cryptocurrency news sites for his impressive comments and stance towards cryptocurrencies. According to Sigal Mandelker, crypto could become an essential part of the battle against terrorism – and non-compliant fintechs won’t survive the war on terror.
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As a press release published on the US Treasury website on September 11 notes, Mandelker made her remarks during the 19th annual international conference on counterterrorism. She admitted that most of the terrorist organizations still rely on various traditional means of financing such as cash. However, she also said that crypto could become “the next frontier” in the war on terrorism, stating:

“Terrorist organizations and their supporters and sympathizers are constantly looking for new ways to raise and transfer funds without detection or tracking by law enforcement.  While most terrorist groups still primarily rely on the traditional financial system and cash to transfer funds, without the appropriate strong safeguards cryptocurrencies could become the next frontier.”

The US Treasury undersecretary was also featured in the latest cryptocurrency news for her statement about the militant organization Hamas which asked for Bitcoin (BTC) donations via social media – and received more than $10,000 from two addresses.

“While this may not seem like a lot of money, a FinCEN analysis found remittances linked to terrorism averaged less than $600 per transaction.  As we know, the cost of carrying out a terrorist attack can be very low. But the human costs to victims is always extraordinarily high,” Mandelker said.

According to her, crypto could become a big part of this war. Specifically, she pointed out that cryptocurrencies are major developments in the field of value transmission, all of which requiring “a tremendous amount of energy and expertise” as she said.

“Absent appropriate safeguards to keep our nations and our communities safe from terrorists, rogue regimes, and others who threaten us, the U.S. will work with governments around the world to make sure that non-compliant networks and fintechs do not survive,” Mandelker added.

She also summed up with a statement featured in the altcoin news – which directly contradicts the declarations made by the US congressman Patrick McHenry who said that any attempts to stop Bitcoin are futile. However, the US Treasury undersecretary concluded with the following statement:

“The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force.”