Cryptocurrency Is Not Conducive for Terrorism, Says Defense Expert to Us Congress24.22

Despite tired rhetoric that speaks to the contrary, cryptocurrency is an inefficient form of money for terrorist organizations. However, one expert believes the U.S. ought to take steps to prevent its adoption as a sanctuary financial conduit for global terrorist networks.

According to Yaya Fanusie, a senior member of the Foundation for Defense of Democracies Center on Sanctions and Illicit Finance, cash is still the preferred form of money for terrorist organizations. In a testimony delivered before Congress, Fanusie declared that despite concerted efforts, terrorist networks have been unable to utilize cryptocurrency to fund their activities.

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