Is Crypto Financing Terrorism? – HS Today

The United States will go after cryptocurrency firms that fail to stop terrorist groups from moving money, the U.S. deputy Treasury secretary, Wally Adeyemo, warned on Friday.

“If they do not act to prevent illicit financial flows” Mr. Adeyemo said in a speech at the Royal United Services Institute in London, “the United States and our partners will.”

Adeyemo’s comments follow a letter by Senator Elizabeth Warren, Democrat of Massachusetts, and dozens of members of Congress this month that called for the Biden administration to crack down on the use of cryptocurrency by terrorists. It cited a report that the terror groups Hamas and Palestinian Islamic Jihad have raised more than $130 million in crypto in recent years.

Read the rest of the story from the New York Times here.

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