US Treasury Says Crypto Was Little Used to Finance Hamas
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According to a United States Treasury official, a recent report stating that militant groups Hamas and Palestinian Islamic Jihad received tens of millions of dollars in cryptocurrency was incorrect.
The Treasury’s Undersecretary for Terrorism and Financial Intelligence, Brian Nelson, clarified during a House Financial Services Committee hearing that the reported amounts in the wallets may not have been what was actually going to the groups.
Nelson also stated that terrorists still prefer traditional forms of funding over cryptocurrencies.
The Wall Street Journal partially corrected their October report, which claimed the groups had received $93 million and $41 million in cryptocurrency between August 2021 and June 2023.
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