Lawmakers call on DOJ to consider charges against Binance, further investigate Tether over possible involvement in illicit finance

Republican lawmakers urged the U.S. Department of Justice to figure out the extent to which Binance and Tether might be supporting terrorism funding following attacks on Israel.

"To that end, we strongly support swift action by the Department of Justice against Binance and Tether to choke off sources of funding to the terrorists currently targeting Israel," the lawmakers wrote. Tether was fined by the CFTC in 2021 over its backing of its stablecoin USDT. Tether recently froze 32 addresses controlled by Hamas and Russian-linked entities in Israel and Ukraine, the lawmakers said, citing a report from the Financial Times.

Both Hill and Lummis have been friendly toward crypto and said in their letter that crypto and distributed ledger technology can "drive responsible innovation."

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