A terrorist organization has turned to bitcoin as it seeks to raise funding for its activities. According to a new report, the military wing of Hamas, known as Izz el-Deen al-Qassam Brigades has been asking its supporters to send in donations using bitcoin.
The United States and the European Union have both labeled Hamas as a terrorist organization. Others, such as Britain have only proscribed the military wing, al-Qassam Brigades as terrorists. This makes it illegal for citizens in these regions to support the organization financially. Financial firms that handle funds related to the organizations are also obliged to report them to the authorities.