Senators Propose Bill to Block Terror Groups from Using Digital Assets to Finance Operations
• Bipartisan group of senators introduced legislation targeting terror financing from digital assets • Aims to prevent foreign terrorist organizations and their financial backers from accessing U.S. financial institutions • Broadens current sanctions focused on Hezbollah to include all U.S.-designated foreign terrorist groups • Role of crypto in terror financing is disputed, with figures suggesting it is small compared to traditional methods • Bill would equip Treasury Dept with more resources to address emerging threats involving digital assets