RATE Group | Terrorist Groups Experimenting With Cryptocurrency, But Not Much
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Terrorist Groups Experimenting With Cryptocurrency, But Not Much

11 Sep Terrorist Groups Experimenting With Cryptocurrency, But Not Much

Posted at 01:02h in Cryptocurrency News by

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September 10, 2018 11:31 PM

A recent report details cryptocurrency’s limited traction among terrorist organizations.

According to a September 7 report from Yaya Fanusie of the Center on Sanctions and Illicit Finance, a Washington, DC-based economic think tank, cryptocurrency is on the radar of Al Qaeda and the Islamic State. Although terrorist groups have experienced limited success in their cryptocurrency-based fundraising activities, Fanusie believes that the US should prepare “now for terrorists’ increasing usage of cryptocurrencies.”

Fanusie asserts that because terrorist organizations adapt to new opportunities, whether that be for plotting attacks or financing purposes, the emerging cryptocurrency market offers a new avenue for terrorists to exploit. Regarding cryptocurrency’s potential for exploitation, he explains, “Law enforcement officials and regulators have flagged cryptocurrencies for enabling illicit activity because of their pseudonymity and suitability for cyber…

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