Over the last month, the Wall Street Journal’s coverage of crypto fundraising by Hamas has set off a storm of letters on Capitol Hill. Even though some of the original reporting has been called into question, the debate over terrorists’ use of crypto has sparked letters from Congress to the Treasury, from Treasury to Congress, and from the House back to Treasury and the President.
But for all the strongly-worded emails landing in D.C. inboxes, policymakers may find that our economic sanctions are far less effective at cracking down on crypto bad actors than before.
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