Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»TRADING NEWS»Terrorist financing using cryptocurrencies must be stopped, a US senator said.
TRADING NEWS

Terrorist financing using cryptocurrencies must be stopped, a US senator said.

By Crypto FlexsDecember 11, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Terrorist financing using cryptocurrencies must be stopped, a US senator said.
Share
Facebook Twitter LinkedIn Pinterest Email

Senators Mitt Romney, Mark R. Warner, Mike Rounds, and Jack Reed introduced the Counter-Terrorist Financing Act.

The bipartisan bill aims to strengthen sanctions against foreign entities that facilitate financial transactions with designated foreign terrorist organizations (FTOs), including Hamas.

Cryptocurrency terrorism financing law expands scope

Previously, these sanctions were primarily limited to targeting Hezbollah following the passage of the Hezbollah International Financing Act in 2015.

However, the new bill expands these sanctions to apply to all U.S.-designated FTOs, addressing an urgent need highlighted by the October 7 attack on Israel by Hamas.

Meanwhile, Senator Romney emphasized the need to address the role of cryptocurrencies in financing terrorism. He said the proposed legislation provides the Treasury with additional resources to combat new threats related to digital assets.

According to Senator Warner, the Terrorist Financing Act is designed to ensure that the Treasury Department has the tools it needs to impose sanctions on terrorist groups like Hamas.

Read more: What does a vampire attack mean in cryptocurrency?

US Senator Aims to ‘Save Lives’ with Cryptocurrency Financing Bill

Senator Round emphasized the importance of disrupting terrorist financing networks. He expressed confidence that the bill’s sanctions against foreign financial institutions and digital asset companies that support terrorists will save lives.

The bipartisan nature of the bill demonstrates a collective effort to strengthen our national security.

Senator Reed also emphasized the critical need to protect the integrity of the U.S. financial system. In particular, he draws attention to the new threat posed by terrorist organizations.

The statement further explains that it presents foreign financial institutions and cryptocurrency companies with the option of doing business with terrorists or maintaining access to the U.S. financial system.

Senators believe companies will not want to tarnish their reputations within the financial system.

Read more: Top 4 Cryptocurrency Passive Income Ideas That Really Work in 2023

disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

Why I am still optimistic despite noise

June 26, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Bitcoin Black Friday Deals 2023: Pay with Crypto to Get Hot Deals!

November 24, 2023

Caldera launches Guardian Nodes, creating a new avenue for teams to raise funds and decentralize the network.

May 24, 2024

$2.2 billion inflow into digital assets due to US election, led by Bitcoin (BTC)

November 18, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.