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Report: Crypto Not Effective for Financing Terrorist Groups

Published 01/01/2001, 00:00
Updated 11/09/2018, 04:30
Report: Crypto Not Effective for Financing Terrorist Groups

A new report published September 7 by the U.S. Foundation for Defence of Democracies’ (FDD) Center on Sanctions and Illicit Finance (CSIF) shows that digital currencies are ill-suited for financing terrorist groups.

The report was presented by CSIF director of analysis Yaya Fanusie at a hearing before the U.S. House of Representatives Subcommittee on Terrorism and Illicit Finance. During his speech, Fanusie considered several cases wherein terrorist groups used crypto to raise funds.

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