Crypto Addresses of ‘Hamas-Aligned’ Gaza Now Is Sanctioned by U.S, U.K.
Blockchain analytics firm Elliptic found that the online organization raised a mere $21,000 in crypto for Hamas since the October 7th attacks.
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Blockchain analytics firm Elliptic found that the online organization raised a mere $21,000 in crypto for Hamas since the October 7th attacks.
U.S. Deputy Secretary of the Treasury Wally Adeyemo has campaigned Congress to provide new authorities to oversee crypto outside the U.S. (Suzanne Cordiero/Shutterstock/CoinDesk)
Just after Hamas’ terrorist attacks in Israel last year, crypto took blame for helping fund such brutal killing. While the prominent media reports were later bashed by cryptocurrency experts, the U.S. Department of the Treasury’s top official on terrorism financing confirmed to lawmakers on Wednesday the situation was blown out of proportion.
The plaintiffs, who are also suing Iran and Syria, say the crypto exchange facilitated the financing of Hamas and other terrorist groups between 2017 and 2023.
The U.S. and other governments are adding a number of Hamas-affiliated financiers to a global financial blacklist, the Treasury Department’s sanctions watchdog announced Monday.
Legislation will crack down on terrorist organizations like Hamas by applying sanctions to foreign parties that facilitate financial transactions with terrorists.
Almost two-thirds of Israel’s Tron seizures were in 2023, including 39 from wallets Israel said in June were owned by Lebanon’s Hezbollah and 26 in July from Hamas ally Palestinian Islamic Jihad.
A sentry tower and wall complex in Bethlehem in the West Bank. Crystal head of research Nicholas Smart said terrorists are aware that on-chain activities can be monitored. (Johannes Schenk/Unsplash)
Despite a raging online debate discrediting the scale of crypto support for terrorist groups, the story continues to resonate in important places. Most recently on Thursday, the ranking Democrat at a hearing in the U.S. House of Representatives quoted a figure of $130 million in digital assets flowing to terrorists.
U.S. lawmakers Senator Cynthia Lummis (R-Wy.) and Rep. French Hill (R-Ark.) have urged the Department of Justice to “expeditiously conclude” investigations and reach a decision on charging Binance and Tether for aiding terrorism financing for Hamas.