U.S. adds Hamas sanctions as crypto industry fights back against funding claims

Experts say crypto is a small part of terror funding puzzle

The Treasury Department announced new sanctions Friday against Hamas in the wake of its attack on Israel earlier this month.

Adeyemo also addressed U.S. allies during a speech in London Friday, calling for greater cooperation with the United Kingdom and other allies to disrupt terror finance networks, with a specific emphasis on cryptocurrency and digital assets. Sen. Cynthia Lummis of Wyoming and Rep. French Hill of Arkansas, both Republicans, on Thursday wrote a letter to Attorney General Merrick Garland calling on the Department of Justice to “take swift action…against Binance and Tether to choke off sources of funding to terrorists currently targeting Israel.”

The Wall Street Journal, however, corrected the article after widespread criticism from the crypto industry, including analytics firm Elliptic, whose data served as the basis for the article.“There is no evidence to suggest that crypto fundraising has raised anything close to that amount,” Elliptic said in a blog post published Wednesday.

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