RAND report: Terrorists unlikely to use cryptocurrencies

posted 3 months ago
A report from RAND titled ‘Terrorist Use of Cryptocurrencies: Technical and Organizational Barriers and Future Threats’ concluded that despite cryptocurrencies offering an anonymous, secure, and ready stream of funding, there was “little current evidence of the adoption of cryptocurrencies by terrorist organizations or the motivation to do so”.

Notably, Hamas, the Gaza Strip-based Palestinian terror outfit has already been accepting donations via Bitcoin for the past two months. The report went on to say, “Upon evaluation, it was found that no single cryptocurrency is currently able to address all the financial needs of terrorist organizations.” Citing that Bitcoin is pseudo-anonymous and not truly anonymous as there is an indelible record of transactions on the blockchain. The report used examples of Bitcoin and Zcash to make its case.
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