Terrorism is a term that is used to describe acts of violence in order to create fear within large masses of people to achieve some political, religious, financial or ideological purpose. Terrorism is performed both in the domestic territories of terrorists and on the international level. Terrorism is funded for a variety of reasons. Sometimes, terrorism is funded to destabilize the political situation in a country for some geopolitical reason by other countries. Terrorism is also funded by protection racketing, kidnapping for ransom, fraud and robbery. Sympathizers of terrorism often use cryptocurrency and Bitcoin, in particular, to cover any traces of funding. Bitcoin terrorism financing is an important issue for many governments and is a major issue in regard to Bitcoin regulation policies. Although the scale of terrorism financing via Bitcoin may be exaggerated, some authorities see it as too risky to remain inactive.
The Israeli government is now reportedly in the process of reviewing several crypto firms to issue operating licenses.
Israel reportedly adopts new AML rules for crypto
The Financial Conduct Authority has warned U.K. consumers of dealing with 111 unregistered crypto firms, calling it “a very real risk.”
UK regulator warns against 111 unregistered crypto companies... and FOMO
U.S. Congress subcommittee says that bank reporting methods led to Capitol attack arrests but worries that Bitcoin might have helped fund the insurrection.
Congress worries crypto used to fund domestic terrorism, Capitol insurrection
The CEO of Goldman Sachs believes regulators will not be able to monitor the financial system if Bitcoin is allowed to flourish in its present form.
Goldman Sachs CEO: Regulators should be 'hyperventilating' at Bitcoin's success
A bipartisan group of representatives has introduced a bill to the House that seeks to create a task force focused on combating terrorist financing via cryptocu...
Crypto anti-terrorism bill introduced in the US House of Representatives
A U.S. circuit court has concluded its review of a terrorism financing case that begin in 2010, saying that the NSA's phone tapping was illegal but that it was ...
US federal court calls NSA’s mass phone data collection illegal
The information will be used to develop regulation aimed at tackling the illicit use of cryptocurrencies.
House Dems request Trump admin. briefing on crypto seized from terrorists