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Lawmakers Ask Biden, Yellen to Quantify Hamas’ Digital Asset Fundraising

Katie Lin

Summary: House Financial Services Committee Chair Patrick McHenry (R-N.C.), Majority Whip Tom Emmer (R-Minn.), Reps. French Hill (R-Ark.), Ritchie Torres (D-N.Y.), Josh Gottheimer (D-N.J.), and more than 50 other House representatives wrote a letter to U.S. President Joe Biden and Treasury Secretary Janet Yellen requesting the quantification of the extent to which terror group Hamas might ...

House Financial Services Committee Chair Patrick McHenry (R-N.C.), Majority Whip Tom Emmer (R-Minn.), Reps. French Hill (R-Ark.), Ritchie Torres (D-N.Y.), Josh Gottheimer (D-N.J.), and more than 50 other House representatives wrote a letter to U.S. President Joe Biden and Treasury Secretary Janet Yellen requesting the quantification of the extent to which terror group Hamas might be using cryptocurrency to raise funds. 

The letter states that there are concerns about Hamas receiving crypto funds, but the extent of the problem remains unclear.

"Congress must understand the size, scope, and duration of Hamas’s digital asset operations, as well as whether the United States has had success in seizing illicit digital assets," the letter said.

Author: Katie Lin

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