No Terror with BTC! Thanks to AML and KYC Regs
Are you a Bitcoin skeptic? I hope not... Most of the vocal critics of bitcoin and cryptocurrency seem to be concerned about the "anonymity" associated with bitcoin transactions. According to some of them, because of the so-called anonymity, bitcoins are "made to order" for terror organizations to raise funds. Well I have some news for them - It is not anonymity, but "pseudonymity", they are two different things. Who said your bitcoin transactions couldn't be tracked to a particular location or IP address in real-time if necessary (if you do not believe me, read it for yourself)? Call me....
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Cash and hawala remain the “predominant methods of terror financing,” according to a UN official, however, "advanced" terror organizations are turning to cryptocurrencies. Terrorist groups who have been excluded from the “formal financial system” have turned to crypto to fund their heinous activities, according to Svetlana Martynova, the Countering Financing of Terrorism Coordinator at the United Nations (UN). The UN official made the comments during a speech at a “Special Meeting” run by the UN’s Counter-Terrorism Committee (CTC) in New Delhi and Mumbai on Oct. 28-29 — which was focused....
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Evidence suggests crypto’s role in terrorism remains relatively minor: “It has not yet become a primary means of terror financing.” We’re living today “amidst an explosion of risk related to fraud, money laundering, terrorist financing, and data privacy,” said United States Treasury Secretary Janet Yellen in February — and she specifically cited cryptocurrencies as a “tool to finance terrorism.”Yellen appeared to be flagging an important new turn in the war against terror, and it begged some questions: Is crypto in the hands of terrorists a real, present danger to governments and society?....