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How Elizabeth Warren is making Hamas crypto’s latest Washington woe
Crypto firms are rushing to get ahead of Capitol Hill scrutiny triggered by the attacks in Israel.
Washington’s cryptocurrency lobby is scrambling to contain a Hamas problem that’s about to become an Elizabeth Warren problem.
Last week’s massacre in Israel has painted a big target on crypto, thanks to reports that militant groups including Hamas recently received financing via digital currencies. It comes as the industry is already trying to bat down daily headlines from the fraud trial of former crypto magnate Sam Bankman-Fried.
Capitol Hill scrutiny is about to ramp up.
Senate Banking Chair Sherrod Brown (D-Ohio) — one of the industry’s fiercest critics — is vowing to use his committee to examine the role crypto played in the Israel attacks. The Hamas connection is also giving fresh momentum to a push by Warren to pass a bill that would impose new anti-money laundering rules on crypto — an increasingly bipartisan effort that digital asset firms have tried to quash.
“The danger of crypto-financed terrorism is real and should be an urgent priority for Congress,” Warren said in an interview. “There’s a growing bipartisan coalition of senators who are committed to passing this bill and fighting back against terrorism worldwide by choking off the financing.”
Read More: https://www.politico.com/news/2023/10/13/israel-hamas-war-crypto-elizabeth-warren-00121368
Crypto firms are rushing to get ahead of Capitol Hill scrutiny triggered by the attacks in Israel.
Washington’s cryptocurrency lobby is scrambling to contain a Hamas problem that’s about to become an Elizabeth Warren problem.
Last week’s massacre in Israel has painted a big target on crypto, thanks to reports that militant groups including Hamas recently received financing via digital currencies. It comes as the industry is already trying to bat down daily headlines from the fraud trial of former crypto magnate Sam Bankman-Fried.
Capitol Hill scrutiny is about to ramp up.
Senate Banking Chair Sherrod Brown (D-Ohio) — one of the industry’s fiercest critics — is vowing to use his committee to examine the role crypto played in the Israel attacks. The Hamas connection is also giving fresh momentum to a push by Warren to pass a bill that would impose new anti-money laundering rules on crypto — an increasingly bipartisan effort that digital asset firms have tried to quash.
“The danger of crypto-financed terrorism is real and should be an urgent priority for Congress,” Warren said in an interview. “There’s a growing bipartisan coalition of senators who are committed to passing this bill and fighting back against terrorism worldwide by choking off the financing.”
Read More: https://www.politico.com/news/2023/10/13/israel-hamas-war-crypto-elizabeth-warren-00121368
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