Terrorism funding is just a FUD that is used by governments to get more control over finance, because in reality almost all terrorist funding comes from governments - groups like Al-Qaeda and Hamas have government support, everyone knows it. Or take ISIS for example - there were reports of them using crypto and getting money from stolen credit cards and other fiat sources, but most of their funding came from their control over oil, and those who buy their oil are the real funder of terrorism.
I think the harm done by fighting terrorism funding (freezing accounts of innocent people, disrupting business, etc.) is far greater than the harm done by the actual funding of terrorism.
Topic: Cryptocurrency, KYC and Terrorism - page 14. (Read 2717 times)
I think the main reason they ask kyc for large amount or on some exchanges even for low amount is money laundering and terrorism, if this not was on this world we could trade without kyc on most exchanges.
It is because the system created were vulnerable to abuses. Not all of the people around the world are good and are only seeing bitcoin and block chain a good tool that can be use for the betterment. Some of it has seen the flows and used bitcoin to take advantage from tye government being an anonymity.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
Yes i do think so, this conspiracy that might turn out to be true and i do think there is a lot of ICO that not real and dont have real product and might be terorist fundrising ICO. I do think its bad idea to give KYC to someone who we dont know especially to crypto world but in other hand i do believe KYC is needed to prevent terorist fundrising. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
If we start to see all platforms are easily corruptible, that is, even in banks there can be terrorists, the good things that exist can be used for terrorism, and in banking they have all the data of all and it is easily hacked to Many who manage to access this platform, with blockchain technology is less incorruptible, but can be acquired, then those who want to remain anonymous the best they can do is operate from the deepweb and with monero or bitcoin but from there, it is the best way to be impossible to track.
I think the main reason they ask kyc for large amount or on some exchanges even for low amount is money laundering and terrorism, if this not was on this world we could trade without kyc on most exchanges.
It is because the system created were vulnerable to abuses. Not all of the people around the world are good and are only seeing bitcoin and block chain a good tool that can be use for the betterment. Some of it has seen the flows and used bitcoin to take advantage from tye government being an anonymity. 
I think that it could be possible to happen as we know that many ICO has run away with the investor money and it could be they are related to that network. We don't know the truth, and maybe that was just a rumor, but I heard that we could get full info for someone in the dark market and we can use that information for anything we want. It's like we get credit card information from one people and we can use it to steal the money. But I don't know more about that.
I think KYC can give a identity.so every one should fillup KYC.for that KYC we can fuond easily the truck.and KYC can give a validity all of sector.So i think for reduce terrorism must need KYC.
Do people really believe in terrorism and drug wars? Someone (read corporations, governments) created terrorism and drug wars to fight with imaginary enemy!
I don't think terrorism or drug wars are created at all. Governments might be reluctant to actively fight against them in some cases, but is there any evidence you can provide me pointing at how these groups are created by corporations and governments?I mean, sure, certain industries do benefit from wars because they can sell a shitload of weapons and whatnot, but that's just the result of cause -> reaction. Where there is a problem, businesses try to sell you the potential solution. That's how basic economics work.
Same thing you can apply on pharmaceutical industry, they create diseases and they sell you "the cure" later, that never heal you, just keeps you ok while you using it.
What if there really isn't anything that can cure certain diseases but only allow you to buy time? The richest people in the world die from the same diseases regular folks die from. They can afford better treatments in some cases, but these treatments are also available to you if you have the money. 
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
But this thing has already speculated by so many people and regulators even when we have known about what was the decentralized network. that used algo to create an encryption transaction in the cryptocurrency. Some trusted ICOs will not do that but it looks like possible the scam icos to be created by terrorist. I just thinking that possibility of it. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
That is why many people hate to perform KYC. As a matter of fact, I am also a cons when it comes in KYC. I do not want to expose my identity in public eventhough, I am a bounty hunter or an investor. Submitting our personal information as well as picture can be used in any act just like scam or terrorism. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
I have noticed that many companies will accept your KYC even if you blurry you ID number and leave only your nama, surname and photo. Keep it in mind before you sent your documents next time. You don't have to show them everything.
This is no longer a new things, cause we have been discussing for many years, there have been lots of people kicking against bitcoin and cryptocurrency as a whole because they believe that it can be used in funding terrorists attacks. As for stealing people's identity, that has been happening for a very long time, there are people who just come here for the purpose of stealing people's identity and selling them on the dark web, so no longer a new thing. That's why a lot of people here hates to make use of platforms that request for KYC, unless maybe it's a trusted platform that has a good reputation.
I think this might happen that KYC is the most important thing in our lives, cryptocurrencies are anonymous and from all walks of life will definitely like it so it's only natural now that. We all know that crypto is created as money as happened to FIAT, but I never heard that we all fund terrorists in the context of the ICO.
My thought is that wherever there is money, there will be scams and criminal activity.
The anonymity (or relative anonymity) of Bitcoin and other cryptos does create money-laundering possibilities along with extortion etc., and the lawless 'wild-west' nature of crypto does present criminals with further opportunities, whether it's KYC scams, ICO scams or anything else.
So in this sense any incoming regulation, although it has its down-sides, can also be a good thing as it will help to protect consumers from criminals, at least to an extent.
But the basic problem isn't crypto, it's the lack of legislation. Governments are notoriously slow-moving, and technology is notoriously fast-moving... this is what causes the problem.
The anonymity (or relative anonymity) of Bitcoin and other cryptos does create money-laundering possibilities along with extortion etc., and the lawless 'wild-west' nature of crypto does present criminals with further opportunities, whether it's KYC scams, ICO scams or anything else.
So in this sense any incoming regulation, although it has its down-sides, can also be a good thing as it will help to protect consumers from criminals, at least to an extent.
But the basic problem isn't crypto, it's the lack of legislation. Governments are notoriously slow-moving, and technology is notoriously fast-moving... this is what causes the problem.
This is a big concern and had been used by the government to try to stop crypto movement, but to be honest alt coin is not that efficient to be used especially it will need to convert to fiat when they want to used it to buy something while btc is not totally anonymous, so I think its just a conspiracy news to misled people, the one that the terrorist prefer is fiat and kyc procedure is something that I hate, if its being misused nobody could stop it, but if you said the terrorist gathering data I think that theory is very likely to happen
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So it really doesn't matter if it's cryptocurrency or US dollars that the terrorists are using. Go after the criminals and don't try to demonize the money they use.
^ I strongly agree on this, even a terrorist group use either fiat or cryptocurrency they were always doing that if they didn't have caught their activities, we should go after them if we know very suspicious moves. KYC documents may be stolen that's why as long as possible we avoid that kind of verification or choose only companies that have trustworthy review by some clients. Joining a project that has KYC is very risky as of now so better to avoid this kind of projects. So it really doesn't matter if it's cryptocurrency or US dollars that the terrorists are using. Go after the criminals and don't try to demonize the money they use.
This is the reason of why i strongly supported the call for a strong regulation as i see that there is still a weak spot after it was started like the KYC requirements in which still the bad guys could find ways on how to bypass the process and use our data illegally. Hopefully the law makers could draw better regulation to ensure the safety of all crypto users and investors.
Do people really believe in terrorism and drug wars? Someone (read corporations, governments) created terrorism and drug wars to fight with imaginary enemy! They are financing terrorist to scare people, than they take the money from the people to protect them from the things they created! Same thing you can apply on pharmaceutical industry, they create diseases and they sell you "the cure" later, that never heal you, just keeps you ok while you using it.
We are all people! Some of us didn`t have "luck" to be born in arranged state, with both parents, nice house and food on the table. Brain washed people, should you blame them or to blame the ones who did that to them?
We are all people! Some of us didn`t have "luck" to be born in arranged state, with both parents, nice house and food on the table. Brain washed people, should you blame them or to blame the ones who did that to them?
I am not sure about this issue, so far there is no evidence of crypto being used to fund terrorism. although the opportunity for that is very large at least the OP provides evidence.
and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
This is indeed difficult to prove but now the OP is talking about KYC being used for terrorists. actually in this case it is not new when bitcoin is associated with terrorists or other crimes. but it can't be proven.and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
I think terrorists already have their sponsors, they don't need to steal some money through crypto currency icos. Actually, money made from scam icos are pennies near the sums terrorists move to maintain their activities.
There are indeed scammers running icos and looking for kyc to blackmail and extort people later, but I don't think they are terrorists, but just common virtual thieves.
There are indeed scammers running icos and looking for kyc to blackmail and extort people later, but I don't think they are terrorists, but just common virtual thieves.
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