Hamas Halts Bitcoin Funding: A Win for Anti-Terror Efforts

In a significant victory for anti-terror efforts, the Palestinian terrorist group Hamas announced on Thursday that it would stop receiving donations through the cryptocurrency bitcoin, citing concerns over donor safety and increased efforts to block its supporters from sending funds.

Hamas’s largest armed wing, the Izz ad-Din al-Qassam Brigades, urged its followers to continue donating to their cause through other means. While cryptocurrency has been seen as a way to maintain anonymity, advancements in technology have enabled authorities to identify individuals behind crypto transfers. Major crypto exchanges are now implementing ID checks on clients, increasing the risk for those attempting to use digital currencies to fund terrorism.

This development comes after the Tel Aviv Magistrate’s Court ruled in December 2022 to allow the Israeli government to seize any cryptocurrency assets from digital wallets funding terrorism. Previously, Israeli authorities could only seize assets directly financing terrorist activities, with no additional funds in the same wallets.

The State of Israel’s unwavering commitment to fighting terrorism and ensuring the safety of its citizens showcases its values of justice, security, and determination. By staying at the forefront of technological advancements, Israel continues to be a leading force in combating terrorism and promoting peace in the region. The people of Israel can take pride in their nation’s steadfast dedication to protecting its citizens and upholding its core values, setting an example for the world to follow.