Crypto Not A Popular Financing 'Tool' For Hamas, PIJ: US Treasury

Cryptocurrencies aren't a preferred financing "tool" by Hamas or PIJ, the U.S. Treasury told House lawmakers Wednesday. (Credit: Traxer/Unsplash)

KEY POINTS

• Undersecretary Nelson said the Treasury assessed terrorists still prefer "traditional" financing methods
• He said the department assessed digital assets weren't a "popular tool" for Hamas or its ally, PIJ
• The October 10 report by WSJ revealed that PIJ received up to $93 million in crypto between August 2021 and June 2023

The U.S. Treasury Department on Wednesday said cryptocurrencies played only a small part in the financing of terrorist activities by Palestinian militant group Hamas and its ally, the Palestinian Islamic Jihad (PIJ).