At Thursday’s Senate Banking hearing, Senator Reverend Warnock sought answers on how the federal government can do its best to combat crypto financing of Hamas 

Earlier this month, Senator Reverend Warnock urged the Treasury Department and the White House to investigate and halt the illicit usage of cryptocurrency by Hamas, the Palestinian Islamic Jihad, and Hezbollah for money laundering and financing of their operations, including the recent terrorist attacks on Israel by Hamas

Senator Reverend Warnock: “I look forward to working with my colleagues to find ways on clamping down on this issue and making sure that we’re not making it easy, for these groups like Hamas, to finance their awful crimes against humanity”

Washington, D.C. – At a U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing on “Combating the Networks of Illicit Finance and Terrorism,” U.S.Senator Reverend Raphael Warnock (D-GA) sought answers to ensure that Hamas would not be able to finance its terrorist activities via cryptocurrency.  This comes on the heels of reports that in the months leading up to the October 7th terrorist attack on Israel, Hamas and Palestinian Islamic Jihad (PIJ) raised funds via crypto, evading U.S. sanctions. 

“Shortly after the terrorist attack in Israel, I joined Senators Warren, Marshall, and many on this committee in urging Treasury to immediately investigate and halt the illicit usage of cryptocurrency by Hamas, by Hezbollah, and other terrorist groups for money laundering and financing of their terrorist operations,” said Senator Reverend Warnock. “I’m glad that Treasury has made some moves here to clamp down on some of the crypto technologies being utilized by Hamas. But the threat does persist. There is debate and conversation here that is very helpful about the extent of the threat. But I think there is agreement that the threat persists.”

The Senator’s questioning followed his recent bipartisan effort urging the Treasury Department and White House  to investigate and halt the illicit usage of cryptocurrency by Hamas, the Palestinian Islamic Jihad (PIJ), and Hezbollah for money laundering and financing of their operations, including the recent terrorist attacks on Israel by Hamas. 

“We have seen the way that crypto has been proven to be widely used by criminals and terrorists the world over,” said Senator Warnock during the hearing. “Even executives at Binance, the largest crypto exchange, are accused by the CFTC of being seemingly dismissive of the risk that Hamas is utilizing their platform to fund terrorism, and authorities have closed over 100 accounts linked just to Hamas on Binance since Hamas’s attack on Israel.”

“I look forward to working with my colleagues to find ways on clamping down on this issue and making sure that we’re not making it easy, for these groups like Hamas, to finance their awful crimes against humanity,” concluded Senator Warnock.

Senator Warnock was an original cosponsor of a bipartisan resolution that expresses solidarity with Israel in the wake of the unprovoked Hamas terrorist attacks and issued a statement condemning the attacks. In addition, Senator Warnock has urged the Biden Administration to lead the international community in contributing to the United Nations’ emergency appeal of $294 million to address the immediate humanitarian needs in the West Bank and Gaza. He also joined Senator Jon Ossoff (D-GA) and other lawmakers in calling for the swift implementation of sustained access for humanitarian aid, including water and medical supplies, to save civilian lives in Gaza.

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