PETERS AND COLLEAGUES URGE ADMINISTRATION TO ADDRESS CRYPTO-FINANCED TERRORISM AFTER HAMAS AND PALESTINIAN ISLAMIC JIHAD RAISED MILLIONS IN CRYPTOCURRENCY

Press Release

"Given the clear and present danger posed by the financing of these and other militant organizations, we ask the Administration to provide additional details on its plan to prevent the use of crypto for the financing of terrorism. That the deadly attack by Hamas on Israeli civilians comes as the group has become "one of the most sophisticated crypto users in the terror-finance domain' clarifies the national security threat crypto poses to the U.S., and our allies. Congress and this Administration must take strong action to thoroughly address crypto illicit finance risks before it can be used to finance another tragedy. As 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 and protect our national security and that of our allies."

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