December 11, 2023

Elizabeth Warren: "Combating crypto-terrorist financing will be a top priority for Congress"

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Elizabeth Warren: "Combating crypto-financing of terrorism will be a top priority for Congress"

Identifying Cryptocurrency Sourcesfinancing of the Hamas group has given the senator new impetus to lobby for a bill that would introduce new rules to combat money laundering in cryptocurrency.

Elizabeth WarrenThe US senator and longtime advocate for stricter crypto regulation said the danger of terrorism financed through cryptocurrencies is real and should be an urgent priority for the US Congress.

The senator told members of Congress that since 2021, digital wallets associated with the Hamas and Palestinian Islamic Jihad movements have received
more than $134 millionWarren announced her intention to speed up the adoption of laws that will make it impossible to launder money and finance terrorism using digital assets. The bill would expand financial crime rules for traditional lenders to include digital asset players.

Elizabeth Warren's position is shared by other members of Congress. For example, one of the most ardent critics of the crypto industry, Chairman of the Senate Banking Committee Sherrod Brown.

Representatives of major US crypto companiesThey reacted extremely negatively to Elizabeth Warren's increased legislative activity. Coinbase Cryptocurrency Exchange Innovation Council CEO Sheila Warren wrote:
on X (formerly Twitter), which feels angry anddisgust at the sight of “using a tragic moment for the whole world to satisfy the inflated political ambitions of cryptocurrency detractors in Washington.”

Earlier, the Banking Policy Institute (BPI), which unites leading Wall Street financial institutions, announced support
bill to combat money laundering through cryptocurrencies.