A bipartisan group of lawmakers, including Senators Elizabeth Warren, Roger Marshall
Representative Sean Casten, has urged the Biden administration to swiftly crack down on the use of cryptocurrencies by Hamas and its affiliates following a deadly attack in Israel
The lawmakers expressed "grave concern" that Hamas and an affiliated group called Palestinian Islamic Jihad are using digital assets to fund their operations and evade U.S. sanctions
Israeli police froze several crypto accounts on October 10 that were used to solicit donations for Hamas
Israel has seized around 190 crypto accounts at Binance since 2021, including dozens owned by Palestinian firms connected to Hamas
Binance has been working closely with international counter-terrorism authorities on these seizures
The cryptocurrency community initially touted digital assets as vehicles for anonymous transactions
federal enforcement actions for fraud, money laundering, and unregistered coin offerings have put the industry in the spotlight
Hamas uses a global financing network, including cryptocurrencies, to funnel support from charities and friendly nations
Israeli authorities have seized "tens of millions of dollars" in crypto from Hamas-linked addresses in recent years, according to blockchain researchers TRM Labs