Lawmakers Seek Answers on Hamas’ Crypto Operations
Fifty-eight U.S. lawmakers have reached out to President Joe Biden and Treasury Secretary Janet Yellen, seeking clarification on Hamas’ use of digital assets to finance its operations. The bipartisan letter aims to provide Congress with a better understanding of the terrorist group’s cryptocurrency activities.
The lawmakers emphasized the need for greater context around Hamas’s digital asset operations, as well as the success of the U.S. in seizing illicit cryptocurrencies.
While reports suggest that Hamas has raised millions in crypto, it remains unclear how much of these digital assets are accessible or still in possession of the group. Blockchain analytics firm Elliptic has stated that there is no evidence to support claims of significant crypto donations received by Hamas, with data on the matter being misrepresented. U.S. Deputy Secretary of the Treasury, Wally Adeyemo, also mentioned that crypto is not a primary funding method for such groups.
The lawmakers have requested written responses from the White House and the Treasury by November 29, addressing seven key questions related to the identification, valuation, and seizure of digital and non-digital assets linked to terrorist organizations. They have also urged the use of blockchain technology to assess Hamas’ crypto footprint for better transparency.
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U.S. Lawmakers Demand Clarity on Hamas’ Cryptocurrency Operations
Fifty-eight U.S. lawmakers have called on President Joe Biden and Treasury Secretary Janet Yellen to provide more information about Hamas’ use of digital assets to finance its operations. This bipartisan effort aims to shed light on the extent of the group’s cryptocurrency activities and whether the U.S. has been successful in seizing illicit cryptocurrencies. Despite reports indicating substantial crypto fundraising by Hamas, it remains uncertain how much of these digital assets are accessible or still under their control. The lawmakers have also pushed for the use of blockchain technology to track and monitor Hamas’ crypto footprint for better transparency and accountability in the digital asset ecosystem.
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