US Treasury To Warn Crypto Firms Against Funding Hamas Amid Israel War: 'Use Every Tool Available To Go After Any Person Or Platform'
Portfolio Pulse from Benzinga Neuro
The U.S. Treasury Department is increasing its scrutiny of crypto firms that may be enabling terrorist financing, following revelations that digital currencies like Bitcoin and Ethereum may have been used to fund Hamas's recent attack on Israel. Deputy Treasury Secretary Wally Adeyemo is set to warn these firms about their potential involvement in supporting terrorist organizations. This comes as the Treasury Department expands efforts to stem the international financial channels that facilitated Hamas's assault, including imposing sanctions on 10 members and entities linked to Hamas.
October 27, 2023 | 12:03 pm
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NEGATIVE IMPACT
Bitcoin may have been used to fund Hamas's recent attack on Israel, leading to increased scrutiny from the U.S. Treasury Department.
The news of potential use of Bitcoin in funding terrorist activities could lead to increased regulatory scrutiny and potential restrictions, which could negatively impact its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum may have been used to fund Hamas's recent attack on Israel, leading to increased scrutiny from the U.S. Treasury Department.
The news of potential use of Ethereum in funding terrorist activities could lead to increased regulatory scrutiny and potential restrictions, which could negatively impact its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100