The US Treasury blacklisted more BTC Addresses that were reportedly connected with terrorists as we can see in today’s Bitcoin news today.
Farrukh Fukatovich Fayzimatov is accused of funneling money to Hay’et Tahir Al-Sham and the Treasury’s Office of Foreign assets Control added another Syria-based terrorist fundraiser and recruiter to the list of Specially Designated Nationals. Fayzimatov Is accused of working with Hay’et Tahrir Al-Sham so now his Bitcoin address is being monitored by the government. An office of the US Treasury Department announced more sanctions against the Syria-based terrorist fundraiser and recruiter accused of working with terrorist groups.
A press release alleged that Farrukh Furkatovitch Fayzimatov utilized social media to post propaganda materials and recruit new members but also solicit donations for the terrorist organization. His BTC address is also being actively monitored through the Treasury hasn’t specified whether the particular address was involved in the terrorist financing. The Treasury’s Office of Foreign Assets Control added more crypto addresses to its watchlist of Specially Designated Nationals but it wasn’t like this in the past. OFAC started designating individual addresses back in 2018 and sanctioned individuals got barred from engaging in financial transactions in the US and with US-based companies which ended facilitating transactions to or from people on the list which are subject to hefty fines.
The US Treasury Nominee claims he will make anti-money laundering his top crypto priority and will implement legislation targeting. Brian Nelson, the new US Treasury Nominee aims to fight against terrorism and financial intelligence by targeting crypto money laundering as a matter of priority. Nelson served as the deputy chief of staff of the Justice Department’s national security division and his comments are in line with the wider US Government rhetoric regarding crypto. Back in June, Charles Rettig who is the commissioner of the Internal Revenue Service said that the US needed explicit congressional authority to launch new regulations on crypto.
He added that the agency will need more tools to better monitor the fast-growing industry while in the same month, the Department of Justice announced that it will give ransomware attacks the same priority as terrorism which is a move that came amidst the Colonial Pipeline attack where the company paid a multi-million-dollar ransom in BTC. Elsewhere in the world, the ties between terrorism financing and crypto reemerged when a senior Hamas official talked to the Wall Street Journal that the group saw an increase in BTC donations during the recent conflict with Israel.
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