{"id":5975,"date":"2023-10-26T08:15:54","date_gmt":"2023-10-26T08:15:54","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5975"},"modified":"2023-10-26T08:15:54","modified_gmt":"2023-10-26T08:15:54","slug":"representative-casten-will-introduce-a-bill-for-crypto-privacy","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/representative-casten-will-introduce-a-bill-for-crypto-privacy\/","title":{"rendered":"Representative Casten Will Introduce a Bill for Crypto Privacy!"},"content":{"rendered":"

US<\/strong> Representative Sean Casten<\/strong>, D-Ill., Said he would introduce a bill to strengthen bank secrecy law<\/strong> requirements for cryptocurrency following reports that Hamas collected millions of dollars through cryptocurrency ahead of attacks on Israel.<\/p>\n

Casten<\/strong>, in his statement to the National Security Panel of the House Financial Services Committee at a hearing held the other day, said that this law would be similar to the bill presented by Senator Elizabeth Warren<\/strong> from D-Mass.<\/p>\n

US Representative Casten<\/strong>\u00a0said, \u201cWe will present a bill here that Senator Warren has already presented in the Senate to do this.<\/strong>\u201d<\/em><\/p>\n

Casten did not specify which bill it was, but Senator Warren will take tough measures against the use of cryptocurrency for money laundering and evasion of sanctions in July. He also reintroduced a bill that will expand the Bank Secrecy Act<\/strong> requirements to include digital asset wallet providers as well as other participants.<\/p>\n

The use of crypto by terrorist organizations attracted attention after the Wall Street Journal<\/strong> published a report identifying that Hamas collected millions in cryptocurrency along with other militant groups before attacks in Israel.<\/p>\n

You might like:<\/i><\/b> <\/i>Polygon is Launching POL Token! Will There be an Airdrop?<\/strong><\/em><\/a><\/p><\/blockquote>\n

WSJ<\/strong> cited the crypto researcher Elliptic saying that the numbers used to portray Hamas’s crypto donations were wrong on Wednesday.<\/p>\n

Elliptic<\/strong> said, “We spoke with not only the lead signer Senator Warren’s representatives but also the authors of the Wall Street Journal article to clarify this.<\/strong><\/em>”<\/p>\n

The company said that since the latest attacks on October 7, only $21,000 <\/strong>in crypto donations have been received, most of which have been frozen.<\/p>\n

Elliptic said, “The unique traceability of these assets means that the collected amounts remain small compared to other sources of funds”. “No public crypto donation campaign run by a terrorist group received significant donations compared to other sources of funds.<\/strong><\/em>”<\/p>\n

\n

In the comment section, you can freely share your comments and\u00a0 opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

US Representative Sean Casten, D-Ill., Said he would introduce a bill to strengthen bank secrecy law requirements for cryptocurrency following reports that Hamas collected millions of dollars through cryptocurrency ahead of attacks on Israel. Casten, in his statement to the National Security Panel of the House Financial Services Committee at a hearing held the other<\/p>\n","protected":false},"author":2,"featured_media":5974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[2175,2176,2027,1919],"class_list":["post-5975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-crypto-privacy","tag-cryptocurrency-transfer","tag-israel-palestine-war","tag-war"],"yoast_head":"\nRepresentative Casten Will Introduce a Bill for Crypto Privacy! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Following reports of Hamas using crypto for funding, US Representative Casten plans to introduce a bill tightening crypto security rules.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/representative-casten-will-introduce-a-bill-for-crypto-privacy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Representative Casten Will Introduce a Bill for Crypto Privacy! 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