Could Bitcoin’s Associations with Terrorism Lead to its Ban?

One of the more complex aspects of global terrorist activities is to be traced in financial transactions. And it has become more challenging since the Bitcoin came into the picture.
The Bitcoin anonymity favors terrorist funding
Over the past few months, the United States Central Commands have been studying the alternative payment methods terrorist organizations raise and transfer money around the globe to support their activities. Digital currencies proved to be of the most efficient mechanisms for the transfer of funds due to their decentralized nature that facilitates anonymous donations as opposed to traditional banking transactions with the use fiatcurrency. Recently, an Israeli analyst has come up with concrete evidence that the ISIS is raising funds in Bitcoins, most likely in the United States, to fund their operations.
The Bitcoin criminalization on a hype
Also recently, the British Bankers’ Association (BBA) criminalized the Bitcoin for alleged associations with terrorism. Anthony Browne, chief executive of the BBA, told The Sunday Telegraph, that:

This post was published at NewsBTC on February 3, 2015.

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