Topic: Shame on haters for claiming that crypto is widely used in terrorist financing! (Read 364 times)

Crypto is indeed a small part of the criminal network of funding. Crypto is for everyone and anyone person can be anyone once they have understood how to use it and get the best gain from it.

Good and bad are opposites on this life's coin and while the government gets smart to curb the activities of criminals and terrorists, the criminals also device new payment plans and systems to fund their activities. It is just so painful that crypto currency is a means that they have learnt to use.

Am very certain the percentage of legal and trusted users of cryptocurrency are more as compared to those who use it to sponsor or support their terroristic or criminal altruistic tendencies.

These are complaints you will always get from people who hate Bitcoin and yet has little or no knowledge about how it works, and forgetting that as a currency, whatever it's been used for doesn't describe what it stands for, because as a currency, it's liable to be used both for positive and negative things, just as gold and fiat has always been used as a medium of exchange for terrorist groups both local and international, and today Bitcoin is in no way an exception. Hence, since governments nor Central banks has no control over Bitcoin, such fake news is likely to be a tool used by them to scare people away from investing in Bitcoin but rather choosing to invest in fiat where they have control over the entire people's fund.

So how dare they blaming it all in crypto?

So how dare they blaming it all in crypto?

Terrorists are almost certainly not using crypto for their day-to-day terror activities. It's too inconvenient when most people don't have an internet device (you think they're allowed to carry mobile phones with them? They can be tracked by intelligence agencies.) It is likely only the financing of terrorism part that may possibly be done in cryptocurrency payments to a power broker.

And this is the main reason behind people who hate bitcoin; they don’t want to learn and know how it works, and that is why they always tend to throw some hate and keep lying that bitcoin can be used for such things. However, since the existence of this industry, I have never seen a proof where they said this is the proof where bitcoin was used in this kind of act. Even though they always say something like this, they don’t really have proof of that.

However, some people lie because they don’t want people around them to adopt bitcoin in the fact that they know that when they know about it, they will start having problems with businesses buying and selling goods because people will start using bitcoin to purchase things online because of it’s freedom and anonymity, especially government, they will also do it because their fiat banks will not get used again since the citizens will understand that btc transactions are easier than bank transactions and no one will have control over their savings.

People tend to only throw hates at what they don't understand, instead for them to learn and understand the idea behind Bitcoin existence they choose to hate.

Also, the article pointed out that setting up a cryptocurrency wallet is a piece of cake, and it's pretty tricky to trace the owner, even though all transactions are right there on the blockchain, which is like a permanent public record. To dig up who's behind it all, they'd need an account on one of those fancy, government-regulated 3rd party exchanges. That way, the government can just tell them to cooperate with the investigation. But here's the catch, those sneaky terrorists probably already know this stuff and might be one step ahead, making it harder for the government to trace them. Sure, the exchange can freeze the funds, but finding out who owns that wallet? Now that's the real challenge.

Chainanalysis may not be scientifically accurate, but it's widely cited when people are trying to make a point about illegal usage of crypto funds.

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That's not surprising for me, because, the points written in the proposal are valid but to some extent, I did not read the whole proposal but read around 15 pages, where they talked about CVC mixing and the darknet market of Russia that were used to launder money and to provide money to terrorism groups, especially of NK, I already did some research on the Lazarus group and other 4 main groups connected with Lazarus, they are working for NK.

Well, they really looted a hell lot of money, and still, they have money lying in their wallets that they will launder when the right time comes, well, I will say, they are doing their job which is to eliminate the crime rates and to control the money laundering issue. Even though many congressmen and other political parties have talked in favor of BTC and big businesses are going to accept the BTC and will allow the US citizens to buy those shares.

This is just a trap for the US citizens so that they will be left with no choice but to buy their ETFs by doing full KYC. I do not see it as a threat to BTC, because BTC in itself is not used and reliable for Money Laundering, instead, the tools used to obfuscate the TX are the ones they are most concerned about. Well, They are mostly concerned about darknet markets because in their own words on page 12
Quote
$35.2 million to CVC mixers and $252 million to darknet markets.

This indicates, that mixers are not the only and most reliable source for the bad actors to obfuscate money, but these are just to divert their time and attention.