📢 More than 100 US lawmakers are calling on the Biden administration to clarify its efforts to combat global terrorist financing using cryptocurrencies. This comes after reports that the Islamist organization Hamas has used crypto to raise millions of dollars over the past two years. Lawmakers are calling for more details on plans to prevent cryptocurrencies from being used to finance terrorism. 🚨

Even though the Israeli government is already making efforts to crack down on Hezbollah and Hamas funding, lawmakers believe that only a "small percentage" of cryptocurrency passing through those organizations has been seized. The letter also requests information about which actors are facilitating such transactions, noting that the majority of PID accounts on Binance “primarily used the stablecoin tether to conduct transactions.”