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US banned transactions with terrorist organizations in 1995 Counter-Terrorism Act.
An Israeli civil rights NGO told Coinbase on Tuesday that it believes Hamas is using the cryptocurrency firm to raise funds.
“It has recently come to our attention that the notorious Palestinian terrorist group Hamas currently maintains an account with Coinbase, Inc. (“Coinbase”), through which it is accepting donations,” Shurat Hadin-Israel Law Center wrote to Coinbase, one of the largest cryptocurrency brokerages.
“Therefore [we are] writing to notify Coinbase that knowingly providing material support or resources to Hamas is a violation of US federal criminal law, and to demand that Coinbase immediately terminate any and all accounts and services provided to Hamas.”
The US banned transactions with terrorist organizations under the 1995 Counter-Terrorism Act.
Other online payment organizations such as PayPal have shut down accounts linked to Palestinian terrorism.