Crypto Not Viable for Funding Terrorists, FDD Says
The U.S. Foundation for Defence of Democracies’ (FDD) Center on Sanctions and Illicit Finance (CSIF) recently said in its report that cryptocurrencies are ill-suited for financing terrorist groups.
CSIF director of analysis Yaya Fanusie told the US House of Representatives that the public visibility of transactions on the blockchain leaves a trail which can be traced back to the terrorists. Furthermore, some of the fundraising attempts such as the one conducted by “Jahezona” in 2016 raised only a little more than $500 in Bitcoin.
Fanusie also said that managing large cryptocurrency transactions require specific skills, particularly in cybersecurity, which the terrorists may lack.
Source: Coin Telegraph