BITCOINS AND TERRORIST NETWORK

The European Union is currently debating on introducing stricter regulations on cryptocurrencies, such as bitcoins, as they seem to be mostly used for illegal transactions.

                Independent agency created in 2002 to track money-laundering activities in Indonesia – stated that the Islamic State is strongly suspected of financing its operations through bitcoin platforms and PayPal online services. Yvan Yustiavandana, research director at  declared that terrorist groups seem to favor modern and sophisticated online payment instruments, probably because transactions made through those channels are more difficult to track and almost anonymous.