Coinbase: Cryptocurrencies should not be used to support terrorism, and the U.S. needs to provide clear regulation for crypto assets

ChainCatcher news, Coinbase stated that no type of currency, whether fiat, gold, or cryptocurrency, should be used to support Hamas or any other terrorist organization. Coinbase is focused on rooting out bad actors seeking to use cryptocurrency for illegal purposes, with a total of 400 compliance, legal, and investigative personnel across the company.

Coinbase stated that blockchain is a tool to combat terrorist financing, and reports regarding Hamas's funding related to digital assets are associated with offshore entities that are not subject to U.S. laws (including anti-money laundering and sanctions regulations), making it easier for them to engage in such activities. This is why we need clear regulation in the United States.