Terrorists still raise money through crypto, but the impact is limited
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?....
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Bitcoin in the Headlines is a weekly analysis of industry media coverage and its impact. Due to their status as both an emerging payment method and payments technology, global authorities have long sought to ensure safeguards are in place to prevent digital currencies from being abused by cybercriminals and terrorists seeking to take advantage of their cash-like features. This narrative was given new prominence this week following the terrorist attacks in Paris last Friday, which left more than 100 people dead and that have found law enforcement agencies and politicians seeking to take....
Financial technology, or fintech, is transforming the way we think about financial services. Advancements in the fintech industry allow companies to better serve their customers and make it easier for businesses to accept payment, manage their finances, and find funding. In order to better understand how financial technology can help you meet your business goals, it is important to learn more about the ways that fintech advancements can impact businesses. Crowdfunding. One advancement in financial technology that has opened up new opportunities for businesses to raise capital is....
Despite Europol’s statement that anonymous currencies are hardly used by terrorists, the European Commission will propose stricter rules on encryption and payment privacy in a bid to curb the financing of terrorism. Why are government officials afraid of Bitcoin? Government officials explain that “there seems to be a risk that virtual currencies may be used by terrorist organizations to conceal financial transactions, as these can be carried out more anonymously.” By being able to track financial flows, authorities hope to cut off terrorists’ access to funds and thus prevent attacks such....
The executive branch of the European Union today adopted a proposal meant to make it more difficult for terrorists and money-launderers to operate by revising existing anti-money laundering (AML) protections. Tucked away in the list of changes proposed by the European Commission is a measure specifically designed to prevent terrorists from using virtual currencies and other financial tools deemed as risk for abuse, such as prepaid cards. Under the terms of the proposal, virtual currency exchanges and custodian wallet providers will be brought under the purvey of the EU's Anti-Money....
The digital currency exchange FTX Trading Limited announced the firm has raised more than $420 million in a Series B-1 fundraise. The capital raise follows the crypto exchange’s financing round at the end of July when FTX raised $900 million. After the raise was announced on October 21, FTX said the firm’s estimated valuation is around $25 billion today.
Crypto Exchange Giant FTX Raises $420 Million in Series B-1
On Thursday, the crypto asset exchange FTX revealed it raised more funds in a Series B-1 financing round. The company raised $420 million from 69....