All The Times Politicians And Banks Funded Terrorism Without BTC

The U.S. Treasury Secretary Steven Mnuchin trashed cryptocurrencies during a press conference earlier this month and he smeared the industry with associations to money laundering and funding terrorism so in today’s altcoin news we take look at all the times politicians and banks funded terrorism without the help of bitcoin.

He stated that he has serious concerns that bitcoin could be misused by money launderers and terrorist financiers. The truth is that the United Government is more likely than anyone to use cryptocurrency in order to fund terrorism. Some have adopted bitcoin to use in criminal activities but some criminals have no trouble using the legacy banking system to launder money. The banks are usually involved in the illicit operations themselves. For example, Wells Fargo in 2010 was involved in laundering $378 billion when it acquired Wachovia and had to pay $160 million in penalties for failing to apply to money-laundering control. It also allowed the Mexican drug cartel to also launder $278 billion. JPMorgan was also involved in $5.3 billion when the US treasury fined the bank for violating the ‘’Cuban Assets Control Regulations, Iranian sanctions, and Weapons of Mass Destruction sanctions 87 times.’’

Another bank that was involved was HSBC in 2012 where it had to pay $1.9 billion in fines for laundering millions of dollar for terrorism and drug cartel involvement. Danske Bank was also involved in 2017 in laundering more than $230 billion worth of dirty money out of the Soviet countries. The US CIA also set millions of dollars to the most violent terrorist groups to fund Pakistan and Afghanistan in the 1980s.

Regan was also involved in money laundering when Saddam Hussein was a client of the country and proxy against the Soviet Union in the 1980s since it is widely known that the US armed and funded Hussein despite including Iraq in the list of state sponsors of terrorism. As noted in the previous latest cryptocurrency news, Obama was also involved in the ATF scandal where he deliberately sold firearms to the violent Mexican drug cartel in the Fast and Furious operation.