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The crypto lobby has made some recent strides in its quest for legitimacy — the House is on the cusp of passing industry-blessed legislation — but is facing growing resistance from lawmakers energized by digital currency’s role in financial crimes.
Hamas was an early adopter of using cryptocurrencies for financing, according to TRM Labs, a blockchain intelligence company. Though most of the group’s funding comes from other sources, groups linked to Hamas have continued to solicit donations through crypto since its weekend attacks, per TRM.
Crypto is seen as a potential tool in financial crimes because it allows individuals to move money outside the traditional banking system with pseudo-anonymity and the use of decentralized platforms
Digital wallets linked to Hamas and Palestinian Islamic Jihad received up to $134 million since 2021, according to crypto analyses cited by the Wall Street Journal.
Law, Power, and Justice 
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