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Why Hamas is using crypto to raise funds

Why Hamas is using crypto to raise funds


October 20, 2023, 12 p.m. ET

WASHINGTON — The role of cryptocurrencies in illicit financing has come under scrutiny after the Wall Street Journal reported that Hamas and other militant groups used the technology to raise millions of dollars ahead of their recent attacks in Israel.

Some lawmakers responded by calling for tougher rules to limit crypto’s usefulness to criminals and groups subject to U.S. sanctions. Crypto Companies Say they work to keep these users off their platforms and argue that digital tokens can help law enforcement track down bad actors.

Copyright ©2023 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8


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Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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