Crypto needs to address terrorist financing
The WSJ writes today about a group providing financial assistance "relating to the jihad" asked for money last year, it provided a Bitcoin address as well as Monero, Dash and Verge. The ledger shows it only received $1,000 but that's $1,000 too many for a US government at war against terrorism.
In January, Republican representative Ted Budd of North Carolina introduced a bill to establish a financial-technology task force to combat terrorists' use of cryptocurrency.
Much of US efforts since 2001 have been focused on blocking conduits in the financial system.
So far, it's not a widespread problem. Terrorists still have the challenge of converting crypto to hard assets.
Ultimately, there are currencies that are far-more anonymous than Bitcoin and more coming, because there's a demand for anonymity. It's tough to envision how governments will fight them...but the fight is coming.
