US Deputy Treasury Secretary Announces New Sanctions Against Hamas

Wally Adeyemo, the Deputy Treasury Secretary for the United States, recently announced further sanctions against Hamas, according to a report from Reuters. These new measures are directed at Hamas’ use of bitcoin assets and are a direct response to the group’s assault on Israel. The purpose of the sanctions is to cut off Hamas’s sources of revenue, particularly those involving crypto assets.

Specifics of the Sanctions

The United States Treasury has imposed penalties on top Hamas leaders, a crypto exchange operating in Gaza, and individuals connected to Hamas’ financial support. This includes two Hamas executives and six individuals who manage the group’s financial portfolio across various geographic areas. The sanctions aim to disrupt the income derived by the organization from a portfolio of companies worth hundreds of millions of dollars.

Targeting the Cryptocurrency Exchange and Individuals

The Office of Foreign Assets Control (OFAC) under the United States Department of the Treasury specifically targeted the cryptocurrency exchange known as “Buy Cash,” located in Gaza, and its primary operator, Ahmed M. M. Alaqad. Evidence suggests that Buy Cash was involved in wealth transfers between al Qaeda affiliates and ISIS. Additionally, the sanctions targeted individuals involved in facilitating cash movement for Hamas, including Musa Muhammad Salim Dudin, Abdelbasit Hamza Elhassan Mohamed Khair, Ahmed Sadu Jahleb, Amer Kamal Sharif Alshawa, Aiman Ahmad Al-Duwaik, and Walid Mohammed Mustafa Jadallah.

Sanctioned Individuals

Among those subject to sanctions are Hamas operatives Mohammad Ahmad ‘Abd Al-Dayim Nasrallah and Ayman Nofal, both recently slain in an Israeli attack.

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The Situation

Hamas sought to circumvent restrictions imposed by the United States by soliciting donations in bitcoin. However, the harsh steps taken by the United States Treasury effectively curtailed these operations. The Biden administration has emphasized the need for additional sanctions to impose further expenses on Hamas and their funding.

Combatting Terror Funding

The United States Treasury’s dedication to thwarting the funding of terrorist organizations is reflected in the tightening of sanctions against Hamas, particularly in the field of virtual currencies. This action reflects the growing concern about the use of digital assets in terror funding and the proactive strategy taken by the United States government to combat this danger.

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