On November 29, CoinGeek was contacted by Tron representatives regarding an article detailing the latest Reuters report on terror groups having shifted their blockchain-based financing activities from BTC to Tron.
Reuters recently published an update on Tron's growing popularity with Islamic terror groups, to the point that it has eclipsed BTC as the chain of choice for Iranian-backed groups.
Binance attempts to stay afloat with the appointment of its new CEO after CZ stepped down following a guilty plea on charges tied to sanctions violations and breaching the Bank Secrecy Act.
Justin Sun's Tron blockchain is again being flagged as terror groups' go-to financing option, while Circle is catching some rare political flak for its ties with Tron.
As charges are being mulled, U.S. politicians argue that while 'crypto' remains a small part of the overall financing, terrorists now know how they can leverage this to spread their ideology.
The move was announced by the Financial Crimes Enforcement Network, identifying coin mixing operations as “a class of transactions of primary money laundering concern.”
A bipartisan group of U.S. lawmakers wrote to the Treasury Department and the National Security Council, calling for the Biden Administration to crackdown on digital asset financing of terrorism.
Digital asset exchange Coinbase issued a blog post on October 17 emphasizing its commitment to “rooting out bad actors seeking to use crypto for illicit purposes.”
Binance downplays reports of customer accounts linked to terror groups, but figures unveiled in a new report say otherwise, with Israel probing around 200 more suspected accounts.
As terror ensues in Israel following the deadly attacks of the Palestinian group Hamas, a report sheds light on Binance's role in financing terrorism, prompting calls for a crackdown.
Binance’s historical willingness to knowingly allow both Hamas and its sponsor Iran to utilize its platform because it boosted Binance’s bottom line now looks even more short-sighted.
Israel's National Bureau for Counter Terror Financing had seized "around 190" Binance accounts, including two allegedly linked to the Islamic State terror group, according to a Reuters report.
