7*24

Hot topic

Market

Activities

According to Cointelegraph, Terrorist groups who have been excluded from the “formal financial system” have turned to crypto to fund their heinous activities, according to Svetlana Martynova, the Countering Financing of Terrorism Coordinator at the United Nations (UN). The UN official made the comments during a speech at a “Special Meeting” run by the UN’s Counter-Terrorism Committee (CTC) in New Delhi and Mumbai on Oct. 28-29 — which was focused on combating the use of “new and emerging technologies” for terrorist purposes. Martynova said that while cash and "hawala" — a traditional system of transferring money in Arab countries and South Asia — have been the "predominant methods" of terror financing, "we know terrorists adapt to the evolution of conditions around them and as technologies evolve they adapt as well," she said. Martynova noted that these technologies include cryptocurrencies, which have been used to “create opportunities for abuse,” she said, adding: “If they’re excluded from the formal financial system and they want to purchase or invest in something with anonymity, and they’re advanced for that, they’re likely to abuse cryptocurrencies.”

Detail

【Terrorists are funding their horrible deeds with crypto: UN officials】According to Cointelegraph, Terrorist groups who have been excluded from the “formal financial system” have turned to crypto to fund their heinous activities, according to Svetlana Martynova, the Countering Financing of Terrorism Coordinator at the United Nations (UN). The UN official made the comments during a speech at a “Special Meeting” run by the UN’s Counter-Terrorism Committee (CTC) in New Delhi and Mumbai on Oct. 28-29 — which was focused on combating the use of “new and emerging technologies” for terrorist purposes. Martynova said that while cash and "hawala" — a traditional system of transferring money in Arab countries and South Asia — have been the "predominant methods" of terror financing, "we know terrorists adapt to the evolution of conditions around them and as technologies evolve they adapt as well," she said. Martynova noted that these technologies include cryptocurrencies, which have been used to “create opportunities for abuse,” she said, adding: “If they’re excluded from the formal financial system and they want to purchase or invest in something with anonymity, and they’re advanced for that, they’re likely to abuse cryptocurrencies.”

Terrorists are funding their horrible deeds with crypto: UN officials

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

Related Articles

All Comments0LatestHot

Trending Topics

Related Articles