CORTEZ MASTO ASKS BIDEN ADMINISTRATION TO ADDRESS CRYPTO-FINANCED TERRORISM AFTER REPORTS THAT HAMAS RAISED MILLIONS IN CRYPTO TO FUND ITS TERRORISM OPERATIONS

Press Release

"Between August 2021 and this past June, [Hamas and PIJ] raised over $130 million in crypto, and moved millions among each other, "with PIJ sending over $12 million in crypto to Hezbollah since 2023.' As the Wall Street Journal reports, "[r]esearchers who study Hamas's financing said crypto remains one of a number of tools the group uses to raise funds.' Given the clear and present danger posed by the financing of these and other militant organizations, we ask the Administration to provide additional details on its plan to prevent the use of crypto for the financing of terrorism.

That the deadly attack by Hamas on Israeli civilians comes as the group has become "one of the most sophisticated crypto users in the terror-finance domain' clarifies the national security threat crypto poses to the U.S., and our allies. Congress and this Administration must take strong action to thoroughly address crypto illicit finance risks before it can be used to finance another tragedy."

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