Tag: Palestinian

Palestinian Civilians Are Using Bitcoin More Than Terrorists

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The Takeaway: Experts say Hamas is now using bitcoin for cross-border fundraising at an unprecedented rate. Still, even the largest estimates of terror financing in the region are apparently dwarfed by civilian bitcoin usage in the Gaza Strip, local experts tell CoinDesk. General awareness in Palestine of bitcoin and ethereum has increased since 2018. Freelance payments and remittances are reportedly the leading use-cases for bitcoin transactions in the Palestinian territories. Terrorists aren’t the only Palestinians using bitcoin. Sources in Gaza told CoinDesk bitcoin is now more popular than ever among civilians,…

Palestinian Prime Minister: National Cryptocurrency Might Replace the Israeli Shekel

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Palestinian Prime Minister Mohammad Shtayyeh recently confirmed that to overcome the problems caused to the Palestinian economy by Israel, his government is making plans to use a digital form of encrypted money i.e. cryptocurrency, local media Al-Monitor reports on July 22. When he made his first appearance on the Palestinian media after becoming the prime minister, Shtayyeh stated that the Palestianians are “not forced to remain dependent on the shekel.” Shtayyeh is calling to put an end to Palestine’s economic reliance on its rival Israel by replacing the Israeli shekel…

Palestinian Authority Considering Crypto to Replace Israeli Shekel

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Palestinian Prime Minister Mohammad Shtayyeh reiterated that his government is considering using cryptocurrency as an alternative to the Israeli shekel fiat currency, English-language local media Al-Monitor reports on July 22. Shtayyeh said at the opening of the Palestine Center for Computer Emergency Response in Ramallah on July 9 that he’ll consider every possibility to enhance the freedom of Palestinian economy that Israel won’t be able to block.  During his first appearance on Palestine TV, after first taking office in April, he reportedly said: “The Palestinian economy has about 25 billion…