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Technology Terrorism

Cryptocurrencies: Potential for Terror Financing?

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This article was originally published by the S. Rajaratnam School of International Studies (RSIS) on 30 April 2018.

Synopsis

Given their transaction anonymity and user-friendliness, cryptocurrencies appeal to extremist groups as they offer a viable alternative to the mainstream financial system and fiat money which are perceived as ‘kafir’ (infidel) currencies. The threat of cyber-driven terrorist financing is expected to grow.