The minister of Home Affairs of Australia Peter Dutton warned that terrorists exploit cryptocurrencies in order to “fund their deadly missions”.
On Nov. 7 Peter Dutton said at the counter-terror conference in Melbourne that the anonymity of cryptos can lead to extremists using the platform.
He stated that new kind of channels such as digital currencies, online payment systems, and crowd-funding platforms can provide terrorism financing while adding:
“The anonymity afforded by such technologies enables terrorist financiers to obfuscate their activities.”
The minister added that nations across the globe should be ahead of the upcoming financial measures while embracing expertise from outside governments. Charities and not-for-profits have also become a channel for terror financing conduits while the organizations are even unaware of such use.
Source: SBS News
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