Senator Elizabeth Warren has taken her staunch opposition to cryptocrime and further evidence of it was displayed as the senator and 28 other senators and 76 House legislators joined forces to write a bipartisan letter to the White House and Treasury urging the Biden administration to take action following reports of Hamas raising funds through digital currency. Yellen showcased the Department’s commitment to counteracting terror finance and disruption of funding in an attempt to no longer enable Hamas to collect money for nefarious activities. Cryptocurrency maybe the current spotlight spotlight of terrorism for its comparatively sporadic and tracking developments, yet traditional funding cycles still have the major hand in landscape. To address such hazard, the global community needs to focus on a stable balance between the instrumentalist of blockchain technology and potentials of it being misused. Nonetheless the United States Treasury and a variety of politicians are heading into this direction and monitoring, freezing and confiscating illegitimate funds accordingly.
