Increase Hamas Pressure, US Treasury Blocks Gaza Crypto Businesses!

<p>&nbsp;"Hmm, I know that US behavior will be like this, pouring more fuel into the raging fire."</p><p><br /></p><p>The United States (US) Treasury Department on Wednesday yesterday reportedly blocked several individuals, entities including a Gaza-based stock exchange said to be supporting Hamas operations.</p><p><br /></p><p>Not only that, the sanctions also target the Buy Cash Money and Money Transfer Company, a company which according to the Treasury has a long history of funding the Hamas group.</p><p><br /></p><p>Buy Cash, which was previously tied to a wallet seized by Israel's National Bureau for Anti-Terrorist Financing in 2021, has been accused of helping, sponsoring and providing financial support, technology, goods and services to Hamas supporters.</p><p><br /></p><p><br /></p><p>Later, the owner of the financial exchange Ahmed M. M. Alaqad was also sanctioned on 18 October 2023.</p><p><br /></p><p>The series, the US is taking relatively fast and decisive action to target the financiers and facilitators of Hamas following the massacre, Treasury Secretary Janet Yallen commented in a statement.</p><p><br /></p><p>According to Yaya Fanusie, a former Central Intelligence Agency analyst who is the head of anti-money laundering and cyber risk policy at the Crypto Council for Innovation, the US has shown how it should pursue any use of crypto by Hamas.</p><p><br /></p><p>It is true that the US only blocked one address associated with Buy Cash, but it has also been used by brokers on multiple blockchains including Bitcoin (BTC), reports a blockchain analysis firm called Elliptic.</p><p><br /></p><p>The firm also found that the address had received more than $25 million worth of cryptocurrencies such as BTC and Tether (USDT) since 2015.</p>