The crypto community has recently scrutinized the U.S. government’s allegedly prejudicial view of various crypto-based projects being used to fund terrorism. In a recent tweet, XRP enthusiast wEeZiE raised concerns regarding the U.S. Department of State’s mention of Ripple in their statement on cryptocurrency and its potential use by criminals.
Specifically, he raised apprehension that the U.S. government often mentions Bitcoin (BTC) and Ethereum (ETH) when they seek to discuss matters related to the digital asset industry. However, according to the XRP enthusiast, the government remembers Ripple, the payment firm associated with XRP, whenever it seeks to criticize the crypto industry.
To bolster his claim, wEeZiE cited a post from the U.S. Department of State titled “Anti-Money Laundering (AML) and Countering the Financing of Terrorism.” The shared screenshot highlighted the parts where the government emphasized how criminals and terrorist financiers may exploit various financial systems.
Specifically, the statement noted Bitcoin and Ripple technology are examples of the new payment methods for illicit purposes alongside traditional routes facilitating trade-based money laundering and cash couriers.
The mentioning of Ripple in such an ugly context did not sit well with the XRP Army. The XRP enthusiast highlighted that the U.S. publication on AML financing came through Secretary of State Anthony Blinken, whose father co-founded Warburg Pincus, one of the two investors in Genesis.
Notably, the point wEeZiE likely tried to illustrate was that the crypto lender Genesis has been entangled in multiple scandals despite its rich political backing. “How bizarre,” he remarked. For context, the bankrupt FTX and Three Arrows Capital (3AC) owed Genesis significant funds. Moreover, the U.S. Securities and Exchange Commission (SEC) has charged Genesis with selling unregistered securities.