Treasury deals blow to Elizabeth Warren’s anti-crypto crusade

Treasury Undersecretary Brian Nelson told a House Financial Services Committee hearing that terrorist groups' use of digital assets is not as prevalent as previous media reports suggested, undercutting the claims behind Sen. Elizabeth Warren's push for her Digital Asset Anti-Money Laundering Act. Nelson confirmed that groups like Hamas use crypto in relatively small amounts, and he said terrorists still prefer traditional products and services. The original Wall Street Journal figure of over $100 million in crypto payments to Middle Eastern terrorist groups was later revised to $12 million after a correction. Rep. Tom Emmer said Treasury had the correct data but failed to correct the narrative in time.