The U.S. Treasury Department announced that it will impose more sanctions on Hamas in the coming weeks, including crackdowns on its use of crypto ass

Wally Adeyemo, the Deputy Secretary of the US Treasury, told Reuters on Thursday that the US and its allies will implement more sanctions in the coming days and weeks to prevent Hamas from obtaining funds, including cracking down on its use of encrypted assets, following the group's attack on Israel last month. Adeyemo said that while cryptocurrency is not the primary source of Hamas' assets today, "over time, if the cryptocurrency industry does not take appropriate safeguards and fulfill its anti-money laundering responsibilities, Hamas and other organizations will use cryptocurrency." In addition, Brian Nelson, the top sanctions official at the US Treasury, held talks on Thursday with the private sector, including cryptocurrency companies and payment processors, to discuss techniques to combat Hamas' fundraising. The Treasury Department said in a statement that Nelson, the Deputy Assistant Secretary for Terrorism and Financial Intelligence, heard presentations from currency service companies, payment processors, and blockchain analysis companies on the technology used by the militant group to raise and transfer funds.