U.S. seeks to shut down Hamas-linked currency exchanges

The U.S. on Monday levied a fifth round of sanctions against alleged Hamas financing networks since the group's Oct. 7 attack on Israel, targeting currency exchanges as key funders for the group and citing cryptocurrency transfers.

- lan Talley

As the U.S. and Western allies scramble to shut down the primary channels Hamas uses to fund its fight against Israel, authorities have zeroed in on the currency exchanges they say are used by their Hamas-tied owners to move millions of dollars worth of money for the U.S.-designated terrorist group, including cryptocurrencies.

"Hamas has sought to leverage a variety of financial transfer mechanisms, including the exploitation of cryptocurrency, to channel funds to support the group's terrorist activities," said Brian Nelson, the Treasury Department's undersecretary for terrorism and financial intelligence.