Binance and Tether Under Fire: A Cryptocurrency Armageddon?

Lawmakers Lummis and Hill Call for DOJ to Take Action Against Binance and Tether for Alleged Involvement in Hamas Activities

Lummis and Hill urge DOJ to charge Binance and Tether for aiding Hamas

Imagine a world where cryptocurrencies and terrorism collide. Well, strap yourselves in because Senator Cynthia Lummis and Representative French Hill are here to take us on that wild ride. In a daring move, they have urged the Department of Justice (DOJ) to expedite their investigations into Binance and Tether for their alleged ties to Hamas. Yes, you heard it right – potential aid to a terrorist organization. Cue the dramatic music!

Now, let’s delve into the juicy details. According to the Wall Street Journal, these crypto giants have been accused of funding extremist groups like Hamas, Hezbollah, and the Palestinian Islamic Jihad. But hold your horses, folks! It turns out that the actual funding might not be as hefty as initially reported. It’s like finding out your neighbor’s dog didn’t actually eat your homework. Nevertheless, our esteemed lawmakers believe that holding bad actors accountable is of utmost importance. Nobody messes with Senator Lummis and Representative Hill!

What makes this request even more intriguing is that both Lummis and Hill have been vocal supporters of reasonable regulation in the crypto world. Lummis, a member of the influential Senate Banking Committee, has been fighting tooth and nail to pass crypto legislation in Congress. That’s right, she’s like a crypto superhero, donning her legislative cape and crusading for a better future. And let’s not forget when she asked a federal court to dismiss a lawsuit against Coinbase by the U.S. Securities and Exchange Commission (SEC). Talk about standing up for what you believe in!

But wait, there’s more! Representative Hill, the Chair of the Subcommittee on Digital Assets House Financial Services Committee, has been pushing for crypto legislation like there’s no tomorrow. This crypto warrior means business, my friends. Together, Lummis and Hill form an unstoppable force, ready to take on any challenges that come their way.

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In their letter to Attorney General Merrick Garland, Lummis and Hill made it clear that they won’t be swayed by Binance’s late attempt at cooperation. They believe that knowing your exchange is being used by terrorists and only taking action after getting caught is just not good enough. Sorry, Binance, but you’re in hot water now!

And let’s not forget about Tether, the sly fox of the cryptocurrency world. Lummis and Hill accuse Tether of turning a blind eye to sanctions violations and failing to conduct proper customer due diligence. It’s like Tether was playing an intense game of hide and seek with international regulations. Well, the game is up, Tether!

As expected, both Binance and Tether remained tight-lipped when asked for a comment. Perhaps they are taking some time to come up with a clever response, or maybe they’re just really busy with other crypto shenanigans. Either way, the silence is deafening.

So, dear readers, buckle up because we’re about to witness a showdown of epic proportions. Will justice be served? Will Binance and Tether face the consequences of their alleged actions? Only time will tell. Stay tuned for the next thrilling chapter in this crypto-infused rollercoaster. Your popcorn and Bitcoin are waiting!

Read More: U.S. Senate’s Banking Chairman Says Panel to ‘Crack Down’ on Crypto’s Terrorism Ties

Edited by Stephen Alpher.

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