Bitcoin (BTC) Becoming Tool for Terrorism Financing?

Digital assets have been used for a long time on dark markets. But now, (BTC) and other assets may take another blow to their reputation, as they are involved in terrorism financing. Now, a pilot study links ISIS activity and financing to the usage of BTC and other crypto assets, based on the research of the MEMRI Jihad and Terrorism Threat Monitor.

The study, titled “The Coming Storm: Terrorists Using Cryptocurrency”, focuses on the shift of terrorists to bitcoin, but potentially to other digital assets.

Until now, the reportedly cash-rich ISIS was using shadow banking and possibly hawala schemes to move funds. But MEMRI has unearthed evidence that jihadists are becoming savvier and using cryptocurrency to transfer funds.

“Cryptocurrency has come to terrorism, with an array of terrorist organizations exploiting the …

This article appeared first on Cryptovest

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.