{"id":605,"date":"2023-10-12T02:34:17","date_gmt":"2023-10-12T07:34:17","guid":{"rendered":"https:\/\/forexrainbow.com\/hamas-and-the-millions-raised-in-cryptocurrencies-says-the-wall-street-journal\/"},"modified":"2023-10-12T02:34:17","modified_gmt":"2023-10-12T07:34:17","slug":"hamas-and-the-millions-raised-in-cryptocurrencies-says-the-wall-street-journal","status":"publish","type":"post","link":"https:\/\/forexrainbow.com\/hamas-and-the-millions-raised-in-cryptocurrencies-says-the-wall-street-journal\/","title":{"rendered":"Hamas and the millions raised in cryptocurrencies, says the Wall Street Journal"},"content":{"rendered":"
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From Giorgio Pirani<\/span> Missiles, the latest generation of drones, intelligent technologies, but also advanced telephones and internet connections for broadcasting around the world – many wonder how Hamas was able to obtain these tools. According to the Wall Street Journal<\/a>part of it was taken over thanks to Cryptocurrencies<\/strong>.<\/p>\n Since 2019, Hamas supporters have started doing this Collect donations in Bitcoin<\/strong>. Additionally, other groups linked to the terrorist group use various cryptocurrencies, including Dogecoin, a coin often sponsored by Elon Musk, and the stablecoins Tether and USDC. The latter are pegged to the US dollar and are not subject to the same volatility as other cryptocurrencies.<\/p>\n This doesn’t appear to be the first time this has happened. An analysis by the trade newspaper Coindesk<\/a> showed that cryptocurrencies play a non-negligible role in recent war scenarios. Volunteers use them to raise funds for the Moscow army, which is struggling with a chronic shortage of basic necessities, war equipment of all kinds, as well as weapons and ammunition.<\/p>\n According to the Wall Street Journal, in the period leading up to the attacks, three groups \u2013 Hamas, Palestinian Islamic Jihad (PIJ) and their Lebanese ally Hezbollah \u2013 received significant sums of money via cryptocurrencies. More precisely, the PIJ received 93 million dollars in digital currency <\/strong>between August 2021 and June this year, while Hamas received approx 41 million dollars<\/strong> in a similar period. Although it is unclear how these funds were used, US authorities in 2022 imposed sanctions on Hamas’ investment office, which has assets estimated at $500 million.<\/p>\n The Cryptocurrency transactions<\/strong> Highlight the challenges the United States and Israel have faced in trying to deny these groups access to foreign funds. All three groups have been designated as terrorist organizations by the U.S. government and are therefore subject to sanctions that are expected to restrict their access to the international banking system.<\/p>\n Cryptocurrencies represent a difficult-to-control virtual financial system that can circumvent traditional restrictions. A report from United States Department of the Treasury<\/strong><\/a> of 2020 highlighted the following:<\/p>\n Gaps in financial crime controls on such cryptocurrency platforms could allow terrorist groups to abuse them.<\/p>\n<\/blockquote>\n
October 11, 2023 5:35 p.m<\/span><\/p>\n<\/div>\nHow many millions of cryptocurrencies have been collected?<\/h2>\n
Why cryptocurrencies are being used to finance global conflicts<\/h2>\n
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