Terrorist groups such as Al-Qaeda, the Islamic State and others have unsuccessfully tried to raise money through cryptocurrencies such as Bitcoin, a former CIA analyst told Congress on Friday per Forbes. “By preparing now for terrorists’ increasing usage of cryptocurrencies, the U.S. can limit the ability to turn digital currency markets into a sanctuary for illicit finance,” said Yaya Fanusie in prepared testimony to House Financial Services Committee.
According to Fanusie, cryptocurrencies have thus far been a poor form of money because they purchase goods and weapons with hard cash in places that have unreliable technology infrastructure.
Source: CryptoDaily.co.uk
Original Post: Terrorists Not Gaining From Cryptos But Risks Remain, Experts Tell Congress
