The post US Senator Calls for DOJ Action against Binance and Tether for Alleged Hamas Crypto Funding appeared on BitcoinEthereumNews.com.

In response to the allegations, Tether emphasized its commitment to preventing the misuse of cryptocurrencies for illicit activities. In a recent development, US Senator Cynthia Lummis (R-WY) has called upon the US Department of Justice (DOJ) to take decisive action against major cryptocurrency entities, Binance and Tether, over their alleged involvement in illicit financing associated with the Palestinian militant group Hamas. The call for action follows a contentious report titled “Hamas Militants Behind Israel Attack Raised Millions in Crypto” by the Wall Street Journal, which accused the two companies of being intermediaries in the reported illicit funding of Hamas. US Lawmakers Urge DOJ to Investigate Binance and Tether Senator Lummis, a prominent supporter of the crypto industry, underscored the gravity of the situation in a letter co-signed by Representative French Hill, Chair Subcommittee, House Financial Services. The letter urged the DOJ to thoroughly investigate and potentially charge Binance and Tether for their roles in facilitating terrorism financing, emphasizing the need to curtail any support that could be aiding terrorist activities, particularly those directed towards Israel. “We urge the Department of Justice to carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism through violations of applicable sanctions laws and the Bank Secrecy Act. To that end, we strongly support swift action by the Department of Justice against Binance and Tether to choke off funding sources for the terrorists currently targeting Israel,” said Lummis and Hill in the letter. In a post on X, Senator Lummis asked the public defender’s office to quickly finish its probe into the two companies and consider bringing criminal charges against the two companies. She further buttressed that crypto is not the enemy, but bad actors are. When it comes to illicit finance, crypto is not the enemy…

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Filed under: News - @ October 27, 2023 9:08 am