Bitcoin, Dogecoin, Ethereum Funding Hamas Terror? $41M Of Crypto Seized So Far Could Just Be Drop In Bucket
Portfolio Pulse from Benzinga Neuro
The US and Israel are intensifying efforts to curtail cryptocurrency transfers to Hamas, with coins like Bitcoin, Dogecoin, and Ethereum often implicated as funding streams for Islamist organizations. The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) proposed new regulations to classify 'Convertible Virtual Currency Mixing' as a primary money laundering concern. Despite these revelations, experts caution against overhyping cryptocurrency’s role in funding extremism. Cryptocurrencies are increasingly accused of facilitating funding for Islamist groups, leading to a rise in regulatory scrutiny.
October 23, 2023 | 10:35 am
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NEGATIVE IMPACT
Bitcoin is under scrutiny due to its alleged use in funding Islamist organizations like Hamas. This could lead to increased regulatory measures.
The news of Bitcoin being used to fund extremist organizations could lead to increased regulatory scrutiny and measures, which could negatively impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Dogecoin is under scrutiny due to its alleged use in funding Islamist organizations like Hamas. This could lead to increased regulatory measures.
The news of Dogecoin being used to fund extremist organizations could lead to increased regulatory scrutiny and measures, which could negatively impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ethereum is under scrutiny due to its alleged use in funding Islamist organizations like Hamas. This could lead to increased regulatory measures.
The news of Ethereum being used to fund extremist organizations could lead to increased regulatory scrutiny and measures, which could negatively impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80