EU Taking The Reins Over Bitcoin & Digital Currencies To Combat ISIL
The European Union announced plans to propose different measures to control alternative payment methods, including electronic payments (e-money), digital currency, pre-paid cards and gold, following the discovery of a bitcoin account linked to ISIL militants' Paris attacks. Countries and justice ministers of the European Union will pressure the European Commision, an executive body of the EU responsible for proposing legislation and implementing decision to "strengthen controls of non-banking payment methods such as electronic/anonymous payments and virtual currencies and transfers of....
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As told by Russian president Vladimir Putin on national television, the majority of the funding received by ISIL militants come from: Donations from rich political leaders in the Islamic state. Oil reserves. Putin and established financial institutions claim that the oil reserves of ISIL generate around US$500 million annually. "According to U. S. Department of the Treasury officials and data they released in the wake of the Paris mayhem, the terrorist group is actually taking in $500 million from oil a year," reported Bloomberg. The purchases of ISIL oil reserves and the donations from....
The recent terrorist attack on Paris has caused a furore among the international community, especially in Europe and United States. Soon after the attacks, multiple reports started circulating around stating that the terrorists were funded using bitcoin. The governments that never took anonymous hacktivists seriously suddenly started considering their statements about bitcoin. Now, based on those unverified reports Europe is planning to reconsider its stance on bitcoin and other digital currencies. The European Union and United States have been unsuccessful so far in thwarting the spread....
The vast majority of funds comes through traditional channels and the banking system. To Bitcoin users, this will hardly be a surprise. For quite some time now, there have been unfounded rumors about the involvement of Bitcoin in terrorist funding. A new report by the UK parliament touches upon the funding of ISIL, and where the money is coming from. It is not surprising to see zero references to Bitcoin whatsoever. Instead, all of the money is coming through traditional channels. How ISIL Is Getting Its Funding Together. Cutting off the funding of terrorist groups such as ISIL is a top....
A teenager who allegedly gave ISIL supporters advice on bitcoin has plead guilty to conspiring to provide material support to the terrorist group. 17-year-old Ali Shukri Amin, from Woodbridge, Virginia, worked as a writer for digital currency news site CoinBrief. He is accused of offering guidance to ISIL (or ISIS) supporters wanting to travel to Syria via Twitter, facing a maximum of 15 years in prison. Assistant attorney general John P Carlin said in a statement:
Yesterday, we were all heartbroken by the news of the terrorist attack on France. At least 87 were killed at the Bataclan concert hall. 18 at Boulevard de Charonne. 14 at Rue Alibert and five at Rue de la Fontaine au Roi. Ghost Security Group is an anti-terrorism group of ethical hackers who are standing in the front lines of the digital war against ISIL. Ghost Security Group started analyzing an enormous amount of data, in an attempt to track the attackers of France attacks. Luckily, I managed to interview one of the guys at Ghost Security Group and asked him a few questions about ISIL,....