Pro ISIS Blog Suggests Bitcoin For Terrorist Funding: Why That Won't Work
A pro Islamic State in Iraq and Syria (ISIS) blog has released a post detailing the potential Bitcoin provides for terrorist funding. I want to emphasize that the Islamic State of Iraq and Syria (ISIS) has not proposed using Bitcoin to fund global jihadist efforts. The majority of ISIS members, the majority of Muslims, and the majority of human beings on the planet Earth have not even yet formed their first cohesive thoughts on Bitcoin. Many reports that claim that the pro-Bitcoin announcement came directly from ISIS itself have been circulating and causing fear, uncertainty, and doubt.....
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One of the charges that has been levied against Bitcoin is that it is involved in the funding of terrorism. In the current media, such a charge is highly damaging, but is it entirely without foundation? In an article titled "'Bitcoin and the Charity of Violent Physical Struggle,' supporters of the Islamic State of Iraq and Syria (ISIS) called for terrorism-supporters around the world to fund a global jihadist campaign by using Bitcoin. The blog advises ISIS on how Bitcoin can facilitate the anonymous transfer that suit the needs of an army in jihad. However, the pro-ISIS blog that....
In saying so, Faisal seems to indicate fake Bitcoin investing sites serve as a money collecting front for ISIS operations. For the umpteenth time, a government official claims there is a correlation between Bitcoin and terrorist group ISIS. Faisal Tayeb, Head of Investigation of Special Detachment 88, made that statement to the press last night. Officials are struggling to shut down funding options for terrorist activities, so they point the finger of blame at Bitcoin. So far, no credible evidence to back up these claims has been presented. The Indonesian government is facing a lot of....
ISIS wants to introduce its own currency and plans to bring back solid gold and silver dinar coins, the Daily Mail reports. The Middle East terror group apparently wants to introduce its own Islamic currency as part of its attempts to solidify its makeshift caliphate. Militants are said to want to bring back the original dinar, which is an ancient currency from early Islam, and religious figures in Mosul and Iraq's Nineveh province have apparently announced its return in mosques. Also read: Pro ISIS Blog Suggests Bitcoin For Terrorist Funding: Why That Won't Work. The currency, which could....
The Islamic State of Iraq and Syria (ISIS) has proposed using bitcoin to fund global jihadist efforts. A blog post entitled 'Bitcoin and the Charity of Violent Physical Struggle' outlines a use case for bitcoin as a vehicle for terrorist financing, noting that its pseudonymous transaction capability fits well within the needs of jihadist organizers. Its author claims to be connected with the Islamic State, the so-called jihadi nation established by the ISIS leadership. The concept that bitcoin could be used to help fund terrorists has been a long-standing concern among law enforcement and....
On November 11th, 2015, CCN reported that the Islamic State in Iraq and Syria or ISIS was preparing to launch its currency. Latest reports indicate that ISIS have gone ahead with those plans to launch their own currency. ISIS is a Sunni, unrecognized state and self-declared caliphate based in Iraq and Syria, or what is also known as the Levant. That explains why it is also known as ISIL. The word caliphate comes from the Arabic khilafa, which means succession, and its leader the Caliph would, therefore, be viewed by its followers as a successor to Muhammad. Conceptually, a caliphate....