A bipartisan group of 29 US senators and 76 congressmen sent a letter to President Biden’s top advisors, demanding answers as to the role played by cryptocurrency in sponsoring recent attacks on Israel. The letter is in response to a series of attacks carried out by the militant group Hamas on Israel earlier this month. Analysts are pushing back against assertions that crypto is playing a large role in the crisis, with Global Head of Policy at TRM Labs saying crypto makes up a “very, very small part” of the fundraising picture. Law enforcement has seized funds in hundreds of crypto wallets associated with Hamas, but former CIA director Michael Morell has called Bitcoin a “boon for surveillance” that should be embraced by governments. There is also criticism of the manner in which lawmakers are leveraging geopolitical turmoil to seek restrictions on crypto. The current crypto political discourse may only serve to push the industry out of America, where it will be even harder to regulate. For those on the ground in Gaza at the epicenter of the crisis, the question of crypto versus fiat has quickly become a distinction without a difference. #cryptocurrency #crypto #blockchain #terrorists
You can read more about this topic here: Decrypt: What Role Is Crypto Actually Playing in the Israel-Palestine Conflict?