Cryptocurrency and Hamas: A Peek Behind the Curtain
This week, a Freedom of Information Act request shed some light on the US Treasury’s investigation into cryptocurrency transactions linked to Hamas. The Wall Street Journal reported that Treasury officials sent Congress a report outlining their probe into $165 million in crypto transactions suspected of supporting the Palestinian militant organization.
While neither the report nor an accompanying letter were publicly released, the FOIA request yielded copies of both documents. This provides valuable insights into how US authorities are tackling the use of cryptocurrency by designated terrorist organizations.
This situation highlights the potential for cryptocurrency to be used for illicit activities and emphasizes the importance of ongoing efforts to combat financial crime in the crypto space.
It’s worth noting that the Treasury also responded to requests about probes involving US Mint coins, demonstrating their commitment to transparency across different financial areas. Stay tuned for more updates on this developing story.
