{"id":176765,"date":"2023-10-18T23:57:55","date_gmt":"2023-10-18T18:27:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176765"},"modified":"2023-10-18T23:57:55","modified_gmt":"2023-10-18T18:27:55","slug":"sen-warren-100-legislators-write-white-house-treasury-about-crypto-and-terrorism-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sen-warren-100-legislators-write-white-house-treasury-about-crypto-and-terrorism-crypto-news\/","title":{"rendered":"Sen. Warren, 100+ legislators write White House, Treasury about crypto and terrorism &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div data-v-3d3be88a=\"\">\n<p>Senator Elizabeth Warren was the lead author of a letter signed by 28 other senators and 76 members of the House of Representatives about the role of cryptocurrency in financing terrorism. Signers came from both parties and included one independent, although Democrats predominate.<\/p>\n<p>The letter, dated Oct. 17, was addressed to Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson and National Security Advisor Jake Sullivan. The authors cited a news article that claimed Hamas and the Palestinian Islamic Jihad raised over $130 million in crypto donations between August 2021 and June 2023, and very little of the donated money had been recovered. The letter said: <\/p>\n<blockquote><p>\u201cThat the deadly attack by Hamas on Israeli civilians comes as the group has become \u2018one of the most sophisticated crypto users in the terror-finance domain\u2019 clarifies the national security threat crypto poses to the U.S., and our allies.\u201d <\/p><\/blockquote>\n<p>It continued: \u201cAs Congress considers legislative proposals designed to mitigate crypto money laundering and illicit finance risks, we urge you to swiftly and categorically act to meaningfully curtail illicit crypto activity.\u201d It then posed nine questions to the addressees, asking about the information the administration of President Joe Biden has about the funders of terrorism, what is being done about the use of crypto to finance terrorism, and what other resources the administration needs. <\/p>\n<p><strong><em>Related: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-lobbying-setback-hamas-crypto-use-berenberg\">Coinbase lobbying efforts face setback from Hamas\u2019 crypto use: Berenberg analysts<\/a><\/em><\/strong><\/p>\n<p> Warren is one of the most prominent crypto opponents in the U.S. Congress. She introduced the Digital Asset Anti-Money Laundering Act in December and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/sen-warren-vows-reintroduction-of-aml-bill-that-extends-to-daos-and-defi\">reintroduced it in the current Congress<\/a>. The bill <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/crypto-bill-us-nine-senators-back-elisabeth-warren\">was picking up support<\/a> before the beginning of the conflict between Israel and Hamas, but the current hostilities have gained her allies.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;US Treasury sanctions Gaza-based crypto operator allegedly tied to Hamas. Find out how terrorist organizations used Buy Cash Money for fund transfers. Stay informed and read more on Cointelegraph: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/j1IhVDNU3o\">https:\/\/t.co\/j1IhVDNU3o<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DYOR?src=hash&amp;ref_src=twsrc%5Etfw\">#DYOR<\/a> @HRM69INU&#8221;<\/p>\n<p>\u2014 Blackhat \u2122 (@blackhat_TM) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/blackhat_TM\/status\/1714696380630073539?ref_src=twsrc%5Etfw\">October 18, 2023<\/a><\/p><\/blockquote>\n<p>The letter has signatures from other active anti-crypto legislators, such as Roger Marshall and Sean Casten. Senate Banking Committee Chair Sherrod Brown, who has called for crypto regulation but did not support Warren\u2019s bill, also signed the letter. Crypto advocates Cynthia Lummis, Kirsten Gillibrand and Patrick McHenry did not sign the letter, but many signers had no prior record on crypto. Signers Jake Auchincloss and Josh Gottheimer had previous pro-crypto voting records.<\/p>\n<figure><figcaption style=\"text-align: center\"><em>Nelson&#8217;s remarks on Hamas&#8217; financing. Source: U.S. Treasury Department<\/em><\/figcaption><\/figure>\n<p>The Treasury Department released Nelson\u2019s remarks prepared for a Deloitte Anti-Money Laundering conference on Oct. 17.  Nelson said Hamas was \u201cuniquely resourced\u201d and \u201cpossesses well-honed methods of surreptitiously accessing the formal financial system.\u201d Nelson referred to secret financial portfolios, shell companies, fake philanthropies and racketeering. In addition:<\/p>\n<blockquote><p>\u201cWe are closely monitoring how Hamas and Palestinian Islamic Jihad (PIJ) use virtual assets to raise and move funds [\u2026] and Treasury will continue to establish transparency in the virtual asset ecosystem in order to combat illicit activity by criminals, rogue states, and terrorist financiers.\u201d <\/p><\/blockquote>\n<p>In addition, the Treasury\u2019s Office of Foreign Assets Control <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/us-treasury-sanctions-crypto-operator-tied-hamas\">announced sanctions against<\/a> a \u201cGaza-based virtual currency exchange and its operator,\u201d along with a number of other Hamas collaborators on Oct. 18. <\/p>\n<p><strong><em>Magazine: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/magazine\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/\">Rogue states dodge economic sanctions, but is crypto in the wrong?<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Senator Elizabeth Warren was the lead author of a letter signed by 28 other senators and 76 members of the House of Representatives about the role of cryptocurrency in financing terrorism. Signers came from both parties and included one independent, although Democrats predominate. The letter, dated Oct. 17, was addressed to Treasury Under Secretary for [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176765"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176765\/revisions"}],"predecessor-version":[{"id":176768,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176765\/revisions\/176768"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176766"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}