Four U.S. senators are targeting digital assets with a new bipartisan bill aimed at imposing sanctions on foreign parties that do business with terrorist organizations.
According to the new press releaseRepublican Sens. Mitt Romney (Utah) and Mike Rounds (South Dakota) are working with Democratic Sens. Mike Warner (Virginia) and Jack Reed (Rhode Island) to fight Hamas and other groups. He is proposing a bill that would crack down on funding to terrorist organizations.
“[The Senators] Today, we introduced bipartisan legislation to crack down on terrorist organizations like Hamas by imposing sanctions on foreign entities that facilitate financial transactions with terrorists. Currently, these sanctions are only imposed in limited circumstances…
The Financing of Terrorism Act, introduced today, would extend these types of sanctions to all U.S.-designated foreign terrorist organizations (FTOs), including Hamas, and those controlled by or acting on behalf of those FTOs. Expand the scope to include other foreign stakeholders. ”
According to the press release, actors identified as FTOs will have limited access to U.S. bank accounts or will be unable to trade crypto assets with people in the United States.
As Romney said,
“The October 7 attack on Israel by Hamas makes it even more urgent and necessary for the United States to counter the role of cryptocurrencies in the financing of terrorism.
Our bill would expand financial sanctions to target all terrorist organizations, including Hamas, and provide the Treasury with additional resources to counter terrorism and address emerging threats involving digital assets. Become. ”
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