John Reed Stark: “Blockchain doesn’t make it easier to track suspicious transactions”

According to a former SEC official, this is not only false, but the exact opposite of reality.


“There is no bigger lie than cryptolobbyists’ claims as if blockchain can prevent terrorist financing and that the technology has already been proven effective for law enforcement,” Stark wrote.

He was referring to a certain high-ranking official from the U.S. Department of Justice whom he met with last week at the headquarters of the Federal Bureau of Investigation (FBI). This official is convinced that it is extremely difficult for law enforcement agencies to track cryptocurrency transactions made by terrorists and other criminals. However, according to a recent Elliptic study, Hamas has received no more than $21,000 in cryptocurrency since Oct. 7, with most of the digital assets blocked.