CRYPTOCURRENCY
Binance Faces Lawsuit Over Alleged Support for Hamas in Israel Attack
Three families of victims from the Hamas attack on Israel have filed a lawsuit against Binance, its former CEO Changpeng Zhao, Iran, and Syria, alleging their support for terrorism. The suit claims these parties provided substantial assistance to Hamas, spotlighting the challenges of regulating cryptocurrency in combating terrorism financing.
Joint Sanctions by U.S., UK, Australia Target Hamas's Crypto Financing Networks
The U.S., UK, and Australia have imposed a fifth round of sanctions targeting Hamas's cryptocurrency transfer networks, aiming to disrupt the financial infrastructure that supports terrorist activities in Gaza.
Circle Formally Refutes Allegations of Illicit Financing and Connections to Justin Sun
Circle denies CfA's allegations of illicit financing and Justin Sun ties, emphasizing regulatory compliance and advocating for stronger stablecoin laws, as clarified by Dante Disparte.
U.S. Intensifies Sanctions on Hamas, Targeting Crypto Assets
The U.S. Treasury has imposed sanctions on Hamas, a Palestinian terrorist group, following their attack on Israel, focusing on their use of cryptocurrency assets. The sanctions include sanctions on officials, a Gaza-based crypto exchange, and individuals involved in Hamas' financial operations.
Japan Freezes Assets Linked to Hamas Funding
Japan has frozen the assets of nine individuals and a cryptocurrency firm accused of financing Hamas, following US sanctions. This move is part of a global effort to disrupt militant group financing channels, focusing on the challenges of virtual currencies in facilitating illicit financial flows.
Elliptic Debunks Claims of Substantial Crypto Funding to Hamas
Elliptic, a blockchain analytics firm, refuted claims of significant cryptocurrency funding to Hamas, following a wave of reports and a letter from US lawmakers to the White House. The firm highlighted the lack of substantial evidence supporting the alleged $130 million crypto funding between August 2021 and June 2023. Despite historical endeavors by Hamas to solicit crypto donations, recent analysis reveals that the amounts garnered remain minuscule compared to the figures cited in misinformed reports.
FinCEN Issues Alert to Counter Financing to Hamas and its Terrorist Activities
The Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury has issued an alert to financial institutions, urging vigilance in identifying and reporting suspicious activities related to the financing of the terrorist organization Hamas. The alert comes in the wake of a Hamas-led attack on Israel on October 7, 2023, which was funded through various means, including virtual currency.
US Treasury Targets Hamas Financial Networks Post-Israel Attack
In a strategic move following the recent terrorist attack on Israel, the US Treasury designated ten key individuals and entities affiliated with Hamas, targeting their financial networks across several countries. This action accentuates the broader US initiative to choke off Hamas’s financial resources, while spotlighting the emerging challenges posed by virtual currencies in terror financing.
Coinbase Legal Chief Urges Swift US Crypto Legislation Amid Israel-Hamas Tensions
Coinbase's Chief Legal Officer, Paul Grewal, emphasized the importance of preventing cryptocurrency misuse and advocated for sensible crypto legislation in the US amidst geopolitical unrest involving Israel and Hamas. Grewal highlighted Coinbase's proactive measures like KYC checks and law enforcement partnerships to curb illicit activities on its platform. The discourse also spurred reactions from the crypto community regarding asset seizures and the role of other crypto exchanges like Binance.
The Bahamas Regulator Denies Requesting FTX To Manufacture New Tokens
The allegations made by FTX debtors have been rejected by the Securities Commission of The Bahamas (SCB), which also expresses worry over the fact that the inquiry has been hampered. The Securities and Exchange Commission (SCB) had to issue a statement on January 3 clarifying that it had to address significant misstatements made by John J. Ray III. According to the attorneys for FTX, the government of the Bahamas is said to have demanded that Sam Bankman-Fried, the former CEO of FTX, launch a new cryptocurrency that would be controlled by local authorities.