Mass adoption of stablecoins will amplify illicit finance risks, particularly when it is handled unevenly across difference jurisdictions, the FATF said
The seized funds represent just a portion of the more than $1.5 million in donations that the DOJ alleges flowed through the accounts.
The crypto exchange complies with anti-money laundering legislation, he said.
Singapore's government noted an increasing use of cryptocurrencies in terror financing, even though it acknowledges that cash and other informal value transfer systems remain the predominant means for financial transactions.
Globally, less than 30% of jurisdictions have started regulating the crypto sector as of June 2023, the Financial Action Task Force (FATF) President T. Raja Kumar told CoinDesk in an interview from Singapore.
Legislation will crack down on terrorist organizations like Hamas by applying sanctions to foreign parties that facilitate financial transactions with terrorists.
Almost two-thirds of Israel's Tron seizures were in 2023, including 39 from wallets Israel said in June were owned by Lebanon's Hezbollah and 26 in July from Hamas ally Palestinian Islamic Jihad.