Coinbase warns against Hamas’ use of crypto
Coinbase crypto exchange has supported an initiative to prevent illegal activities from Hamas in the crypto currency space. Coinbase has joined other companies in supporting the fight against terrorist organizations. It believes that no asset, including gold, fiat money, or crypto currencies, can be used to finance Hamas and other terrorist groups. According to the statement, approximately 400 Coinbase employees monitor compliance and participate in investigations. The exchange team will report suspicious transactions to regulators and monitor and block IP addresses associated with prohibited jurisdictions where Hamas could gain donations. “Blockchain analytics technology allows us to trace, report, and even prevent terrorist financing. This is why it’s critical to prevent crypto from thriving offshore and ensure that the US continues to be a world leader in the fight against financial crime and terrorism.” Coinbase team In May 2023, Israeli authorities froze 190 ad...