US Treasury: Bitcoin's Use in Funding Terrorism 'Unclear'
A new US Treasury Department study reports that bitcoin could possibly be used to fund terrorism but says the actual risk posed remains uncertain. The National Terrorist Financing Risk Assessment, published 12th June, includes virtual currencies on a list of "potential emerging" risks as a tool for funding terrorism, stating that bitcoin "may be vulnerable to abuse by terrorist financiers". The report notes: "Given the attractiveness of virtual currency to conduct illicit financial transactions, the possibility exists that terrorist groups may use these new payment systems to transfer....
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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....
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With the recent false accusations by various media outlets regarding the involvement of Bitcoin funding the terrorist attacks in Paris, a new topic of discussion has been creeping up among the community members. One of the ideas being talked about is how Bitcoin should do more to prevent these terrorist allegations, and take things one step further to....
Crypto terrorism funding is at the focus of analysts today as concerns have been raised about the use of digital assets in funding militant organizations, with a particular focus on Hamas. However, blockchain forensics firm Elliptic is challenging the notion that crypto has played a significant role in terrorist financing, emphasizing the misrepresentation of recent […]