Eighty-six members of Congress representing both Democrats and Republicans pressed the Biden administration for details on how it plans to prevent militant organizations from using crypto in the “financing of terrorism.”
In an Oct. 17 letter, led by senators Elizabeth Warren and Roger Marshall, along with representative Sean Casten, to the US Treasury Department and the National Security Council, the lawmakers noted that militant Islamist groups Hamas and Palestinian Islamic Jihad (PIJ) raised millions of dollars in crypto in the months leading up to Hamas’ attack on Israel. Between August 2021 and this June, the groups raised over $130 million in crypto, with PIJ sending more than $12 million in crypto to Hezbollah since 2023, according to the letter, which cited a Wall Street Journal report.
Source: Lawmakers Press Biden on Preventing Use of Crypto in ‘Financing of Terrorism’ – Bloomberg
