EU Targeting End of 2016 For Virtual Currency Controls To Fight Terrorism Threats
The European Council of the EU has set forth guidelines in which it will seek to regulate virtual currencies and curb terrorist funding opportunities. In light of several high terror attacks within the EU in 2015, many regulators and citizens called for tighter surveillance and anti-terrorism operations. Calls for tighter control over virtual currencies after reports were released when it was suggested that some terrorists might have benefited from using Bitcoin to fund their activities. While such claims that terrorists have a unique advantage in using Bitcoin, the European Council is....
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The United States government just can't quite decide whether to regulate bitcoin, or deem it a threat by declaring it a form of financial terrorism. The digital currency regulated only by mathematics is now being seen by government officials as an emerging threat, possibly to national security. According to IB Times, a counterterrorism program being conducted by the Combating Terrorism Technical Support Office (CTTSO), a division of the Department of Defense (DoD), is seeking help from vendors asking for information on "state-of-the-art technologies" that could potentially pose a threat to....
Law enforcement agencies and government officials are trying to come up with a strategy to fight Bitcoin ransomware on a global scale. One proposal would see countries not doing anything to stop ransomware groups should be treated the same as those who aid in terrorism. Playing the Terrorism Card to Fight Ransomware. The topic of Bitcoin ransomware has....
On August 25, 2016, Australia’s Minister of Finance, Malcolm Keenan, announced that the Australian Transaction Reports & Analysis Centre (AUSTRAC), will be launching a new cyber-intelligence team. Task Force Designated to Take on “Financial Threats” Facing Australia. The team is intended to specialize in gathering information about financial threats to the country as as an additional way of preventing and managing finance-related cybercrime. Some threats the team will attempt to prevent include financial fraud, money laundering, and terrorism financing via the Internet. According to....
March 22nd’s morning saw an attack on Brussels, Belgium killing at least 34 people. Will virtual currencies be increasingly under the scanner as a result? Will terrorist attacks destroy the virtual currency? Frequent attacks on Europe seem to be an unfortunate reality, given that the attack on Brussels Airport and the Maalbeek Subway Station came just four months after the Paris attacks on November 13, 2015. Terrorism is now a global phenomenon with global connotations. These type of terrorist attacks mean that terror financing is a deep concern of security agencies, governments and the....