Assita Kanko wants to introduce strict cryptocurrency rules more quickly to prevent Hamas financing

In March this year, MEP Assita Kanko reached an agreement on behalf of the European Parliament with the Member States on stricter rules for tracking cryptocurrency transactions. Kanko now wants to implement these rules quickly to prevent terrorist organisations from using cryptocurrencies.

Since Hamas’ barbaric attack on Israel on 7 October, all eyes have once again been on the Middle East conflict. While Israel is trying to defeat the terror group militarily, it is also going after Hamas’ financial flows with the help of Western partners. The terrorist group appears to have hundreds of cryptocurrency accounts that are used to raise money. Cryptocurrencies are also used to move revenue.

Construction companies in Turkey

Kanko: “Hamas makes millions every year from construction companies in Turkey, donations from Qatar and social media campaigns in Europe and the Arab world. We must stop this. An effective way is to go after Hamas’ cryptocurrency accounts.”

Track transactions more easily

On behalf of the European Parliament, Assita Kanko negotiated a law last year intended to make it easier for authorities to track the use of cryptocurrency transactions by criminals and terrorists. For example, cryptocurrency platforms must keep track of who their customers are, and their cooperation with investigations is obligatory. The law was almost unanimously supported in the European Parliament.

Take steps more quickly

Kanko: “Officially, the new rules will not enter into force at the European level until the end of next year. I call on the Member States to take steps now and, together with cryptocurrency platforms, stop Hamas’ financial flows. This collaboration is desperately needed to keep cryptocurrencies safe for well-intentioned investors while keeping terrorists out of the cryptocurrency world.”