Palestinian militant groups, including Hamas, still prefer “traditional products and services,” says U.S. Treasury official Brian Nelson.
Cryptocurrencies accounted for only a small part of the funding of militant groups Hamas and Palestinian Islamic Jihad, and an earlier report claiming the group received tens of millions in crypto was inaccurate, a United States Treasury official said.
“The numbers noted in The Wall Street Journal piece talked about wallets but not necessarily the disaggregated [amount] among the wallets customers,” Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson testified on Feb. 14 before the House Financial Services Committee.
Seeking to clarify, Representative Tom Emmer asked if the reported amounts were what “people had in their wallets as opposed to what was specifically going to the Palestinian Islamic Jihad and Hamas.”
