Crptocurrency
Hamas Crypto Sanction: US Treasury Takes Action
In the realm of crafting content, three key elements stand out: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of text, while burstiness examines the diversity of sentence structures. Predictability, on the other hand, measures the likelihood of predicting the next sentence. Human-generated content tends to embrace burstiness, incorporating a mix of longer, complex sentences and shorter ones. In contrast, AI-generated sentences often exhibit a more uniform structure. For the content you’re about to create, I’m seeking a balance of perplexity and burstiness with a deliberate reduction in predictability. Additionally, please confine the text to English.
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The U.S. Treasury has identified certain terrorist groups, such as Hamas, ISIS, and an al-Qaeda affiliate, utilizing the services of Buy Cash Money and Money Transfer Company for fund transfers.
The Office of Foreign Assets Control (OFAC) within the United States Department of the Treasury has imposed sanctions on a cryptocurrency operator allegedly linked to the Palestinian militant group, Hamas. In an announcement on October 18, OFAC sanctioned Hamas operatives and financial facilitators following their attack on Israel. Notably, a “Gaza-based virtual currency exchange and its operator” with a Bitcoin wallet address were added to OFAC’s list of specially designated nationals. The Treasury Department aimed these sanctions at cutting off Hamas’s revenue sources after an attack on October 7 resulted in the loss of many lives among Israelis. The digital currency exchange, named Buy Cash Money and Money Transfer Company, is operated by Khan Yunis, a resident of Gaza, with the Treasury asserting connections to Hamas for both the firm and Yunis. Ahmed M.M. Alaqad, the business owner, was also included in the sanctions.
Treasury Secretary Janet Yellen affirmed, “We will continue to take all steps necessary to deny Hamas terrorists the ability to raise and use funds to carry out atrocities and terrorize the people of Israel. That includes imposing sanctions and collaborating with allies and partners to track, freeze, and seize any Hamas-related assets in their jurisdictions.”
On October 18, blockchain analytics firm Elliptic reported that several terrorist groups, including Hamas, an al-Qaeda affiliate, and ISIS, had utilized the money transfer company, resulting in more than $25 million in BTC and Tether passing through the firm since 2015.
The U.S. Treasury frequently deploys sanctions to undermine financial support for entities accused of involvement in terrorism or other illicit activities. On October 3, the Treasury announced sanctions against crypto wallets associated with China-based chemical manufacturers, in parallel with a Justice Department indictment over the production of the drug fentanyl.
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Prom Announces Mainnet Launch Bringing Better Blockchain Scalability
Seoul, South Korea, November 21, 2024 – Prom, a scalable network based on Polygon SDK, today announced the launch of its mainnet, following an extensive testnet campaign that saw over 25,000,000 transactions and 2,000,000 unique wallets interacting with a chain. This milestone is a step forward in blockchain scalability, as Prom leverages zero-knowledge proof technology to deliver enhanced throughput, optimized transaction costs, and advanced security.
Prom’s solution addresses the most prevalent problems of modern networks by utilizing ZK-based architecture, which until now have not been widespread due to technical complexity. Its architecture ensures the needed speed, level of security, and seamless interaction with the chain, reducing friction for users and granting developers a flexible framework for building a diverse range of dApps.
“We’re thrilled to open a new chapter for Prom and streamline the expansion of our ecosystem by welcoming developers and users to interact with the chain,” said Iva Wisher, COO of Prom. “We’re committed to constant efficiency improvement, transmitting scalability and convenience of everyday on-chain actions, and we are looking forward to welcoming a wave of products built on our network.”
The Prom network was developed in collaboration with industry leaders such as Polygon, DWF Labs, Ankr, Goldsky, Automata, and Blockscout to ensure the highest standards of performance and security.
The native network token, $PROM, is powering the Prom network. Listed on Binance, HTX, KuCoin, Gate.io, Upbit, and AscendEx, $PROM is driving fast on-chain interactions, and serving as the governance token for the Prom DAO. Through this community-driven governance model, users are empowered to help shape the future of the Prom ecosystem while benefiting from a percentage of the total network fees.
The mainnet launch opens new doors for developers seeking a platform for building decentralized applications (dApps). With a grant-based support mechanism in place, developers can utilize Prom’s platform to be an ideal environment to easily build and deploy, unlocking greater product scalability and reducing the barriers to entry for development. For users, Prom’s technology ensures lower transaction fees, strong security, and enhanced decentralization.
About Prom
Established in 2019, Prom has rapidly grown with innovative products across GameFi, SocialFi, Influencer Marketing, DeFi, and more. Prom looks to address critical shortfalls in various markets, setting the standard for capturing a large share of the market, by introducing its own solution to effortlessly unite diverse product sectors.
Prom creates a competitive landscape for advancing blockchain adoption, enhancing network security, decentralization, and efficiency.
Media Contact
Max Kan
CMO
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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