Sanctions on Gaza Now
The US and UK have imposed sanctions on Gaza Now, an online platform allegedly funding Hamas, a militant group. Mustafa Ayash, the platform’s mastermind, and others involved in fundraising have been targeted.
Cryptocurrency in Terrorism Financing
After an attack in Israel, Gaza Now was found to accept cryptocurrency donations. The investigation revealed that digital assets are increasingly used in terrorism financing.
Challenges in Countering Terrorism Financing
Cryptocurrencies pose challenges due to their anonymity and lack of regulation. Authorities are working to enhance monitoring and establish better regulatory mechanisms.
Global Collaboration
The US and UK emphasize the need for international cooperation in combating terrorism financing. The UK has also frozen assets of individuals and entities linked to Gaza Now.
Hamas Funding Through Cryptocurrency
Since 2021, terrorist groups in Gaza have raised over $130 million in cryptocurrencies, with Hamas receiving $41 million and Palestinian Islamic Jihad (PIJ) $93 million. Iran is believed to be a major source of funding for these groups.
