Recently, the cryptocurrency scene has experienced a wave of concerns related to the security and integrity of transactions. Keeping an eye on this scenario, the US Treasury Department is moving to curb illicit practices in the world of digital currencies.
According to recent information, the American body plans to classify international cryptocurrency mixers as money laundering centers. The measure comes after identifying the use of these services by organizations such as Hamas, among other groups recognized for terrorist activities.
This new classification is intended to serve as a sanction, leading to stricter reporting requirements for any financial transactions involving crypto mixers. Wally Adeyemo, Deputy Secretary of the Treasury, highlighted the Department’s commitment to confronting the misuse of virtual currencies by a variety of malicious actors. He highlighted special attention to groups such as Hamas and Palestinian Islamic Jihad, which have allegedly been using cryptocurrencies to finance their operations.
This is not the first time that the use of cryptocurrencies by militant groups has come under the radar of authorities. Recently, the Wall Street Journal published a report pointing out that Hamas and other groups used digital currencies as a financing tool before carrying out attacks in Israel.
This scenario generated immediate reactions in the American political scene. Senator Elizabeth Warren, Democrat of Massachusetts, along with a significant group of other lawmakers, both Democrats and Republicans, expressed concerns about Hamas’ fundraising via cryptocurrencies. In a letter sent to the Biden administration, the group requested immediate action to reduce illicit activities related to cryptocurrencies, targeting the national security of the US and its allies.
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