Lawmakers Urge DOJ to Decide on Binance and Tether’s Role in Crypto Funded Terrorism Linked to Hamas and Israel Conflict
Today, as the U.S. Department of Justice (DOJ) evaluates possible criminal charges against Binance and Tether, two prominent U.S. lawmakers are emphasizing the urgency of the matter. U.S. Senator Cynthia Lummis (R-Wy.) and Representative French Hill (R-Ark.) dispatched a letter to Attorney General Merrick Garland, insisting that the DOJ swiftly conclude its investigations into the two companies.
At the core of the issue is the potential role of these cryptocurrency platforms in crypto funded terrorism, specifically in facilitating financial transactions for Hamas.
The letter from Lummis and Hill
urges the DOJ to take decisive action on Binance and Tether‘s potential involvement in crypto funded terrorism.
When it comes to illicit finance, crypto is not the enemy – bad actors are.
I sent a letter asking DOJ to finish its investigation and consider criminal charges against Binance and Tether after reports they served as intermediaries for Hamas and engaged in illicit activities. pic.twitter.com/M3KGNFkpWc
— Senator Cynthia Lummis (@SenLummis) October 26, 2023
Both lawmakers have a history of advocating for measured regulation of cryptocurrencies. Lummis is an active member of the Senate Banking Committee and has previously drafted crypto-related legislation. Meanwhile, Hill chairs the Subcommittee on Digital Assets in the House Financial Services Committee.
The lawmakers allege that Binance and Tether may have been complicit in violations of sanctions by neglecting due diligence procedures. Hill and Lummis were explicit in stating that Binance’s current cooperation should not alleviate criminal culpability.
Data used to describe the scale of Hamas's cryptocurrency fundraising is exaggerated, with Hamas receiving only $21,000
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