The UK government, in coordination with the US and Australia, has sanctioned individuals and entities accused of facilitating crypto transactions for Hamas, a designated terrorist organization. This move aims to disrupt the international financial infrastructure that supports Hamas’ illicit activities.
Disrupting Hamas’ Funding Channels
According to the Treasury Department, Hamas has been using cryptocurrency as one of several financial transfer mechanisms to fund its operations. By blocking these individuals and entities from the global financial system, the UK government hopes to undermine Hamas’ ability to raise funds and purchase weapons.
“By blocking individuals and entities facilitating crypto transactions for Hamas, the UK government strengthens global security. ”
Enhancing Global Security
Hamas has relied on corrupt money exchanges and cryptocurrency to transfer funds between Gaza and the West Bank, mitigating the risks associated with physically moving cash and evading monitoring by authorities. By cracking down on these channels, the UK government aims to disrupt Hamas’ financing network and enhance global security.
