FinCEN Is Analyzing $165M in Transactions That May Tie Crypto and Hamas, Senior Official Says
Financial institutions reported $165 million in potential crypto transactions linked to Hamas. The U.S. Treasury's bureau combating terrorism financing found over 200 crypto addresses possibly used in these transactions. The Treasury Department is conducting ongoing analysis on the threats posed by cryptocurrencies. Deputy Treasury Secretary Adeyemo expressed concern that terrorist groups may increasingly turn to virtual assets as access to traditional finance is cut off. Lawmakers have been scrutinizing the potential role of crypto in Hamas' activities, prompting a request for greater authority to pursue illicit activity in crypto. Adeyemo referenced high-level legislative proposals intended to modernize Treasury's tools and potentially expand coverage of entities in the virtual asset ecosystem.
