Subscribe to FDD

BITCOIN price LIVE: Bitcoin bounces back after bubble fears spark Christmas crash

Yaya J. Fanusie
27th December 2017 - Quoted by David Dawkins - Express

A former CIA analyst now working for a major US think tank says that as the price of Bitcoin has risen, recent online activity shows that jihadist groups are turning to bitcoin digital currency to attract funds from supporters.

...

Speaking exclusively to Express.co.uk, Yaya J. Fanusie, the director of analysis at US think tank the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance says that although there is still more terrorist-related money transiting through conventional banking institutions and money exchange houses than in Bitcoin, terrorists will continue to seek whatever financial resources or payment methods that they can use, and with its anonymity, Bitcoin needs careful oversight.

...

On the issue of regulation Mr Fanusie says: ”Bitcoin is open source software that anyone can use. The software code itself can not be regulated. Regulation in this case comes into play by governments ensuring that businesses involved in exchanging cryptocurrencies and serving in essence as money transmitters follow regulations in place for financial businesses, such as knowing who is using your business and watching for suspicious financial activity.

...

Read the full article here

Tags