WASHINGTON – In a move highlighting growing bipartisan concern, members of Congress have sent a letter to President Joe Biden and Treasury Secretary Janet Yellen, urging for answers about Binance’s potential connection to terrorist financing. The letter, which surfaced today, points to over $134 million being funneled to Hamas and Palestinian Islamic Jihad through digital assets from August 2021 to June 2023.
The legislators are seeking clarity on several fronts. They want detailed information on the identified wallets linked to terrorist organizations, the duration of these groups’ digital fundraising campaigns, and what actions the US government has taken against these assets. The Congress members have given the administration until November 29 to respond or alternatively, they have suggested a classified briefing if immediate detailed answers are not feasible.
This inquiry comes despite Hamas ceasing its digital fundraising activities in April. Still, questions remain about the scope of their financial operations involving exchanges like Garantex and Buy Cash, which were used in the adversarial transactions mentioned in the congressional letter. Lawmakers are pressing for transparency on how entities like Binance may be involved and what steps are being taken to mitigate such risks in the future.
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