Solomon Samuel 
Two Republican lawmakers in the United States, Senator Cynthia Lummis and Representative French Hill, have requested that the prominent cryptocurrency exchange Binance and the stablecoin Tether be prosecuted for their involvement in recent terrorism financing.
Sen. Lummis and Rep. Hill requested in a letter to the U.S. Department of Justice (DoJ) that the agency “carefully evaluate the extent to which Binance and Tether are providing material support and resources to support terrorism through violations of applicable sanctions laws and the Bank Secrecy Act.”
In addition, these legislators urged the Department of Justice to conclude its investigation and render a verdict on the criminal charges that link Binance and Tether to the Hamas-led attacks against Israel.
In addition, they have asked that the court’s decision reflect Binance’s and Tether’s level of responsibility in the case. Notably, Binance had previously announced the suspension of over 100 accounts allegedly associated with the Hamas military organization.
Additionally, Tether claimed to have blocked digital assets worth more than $873,000. This action suggests that these companies are cooperating with law enforcement agencies to combat the financing of crypto-terrorism.
Recently, Hamas launched an attack against Israel, and it was discovered that the terrorist organization was being financed through cryptocurrencies.
Based on the content of the letter sent to Attorney General Merrick Garland, the lawmaker argued that “Hamas, Palestinian Islamic Jihad, and Hezbollah have received funding through crypto assets since August 2021, although subsequent reports have indicated that the amount of funding reported in the article is likely inaccurate.”
Given that the Tether and Binance prosecution request comes from two prominent officials who have been known to advocate for crypto regulation, it is likely to be considered.
In addition, these legislators are not the first to call for the elimination of crypto-terrorism funding.
A bipartisan group of 105 legislators, led by Senators Elizabeth Warren, Roger Marshall, and Sean Casten, urged the White House to take drastic action against Hamas and the Palestinian Islamic Jihad’s use of cryptography last week.
