Bitcoin as a tool that can provide relief for people under authoritarian regimes is a common idea propagated. However, there is also a darker side to this narrative. Given its decentralized nature, the cryptocurrency is oftentimes highlighted as a tool for funding terrorist activities. This aspect of cryptocurrency was recently analyzed in a report by Chainalysis, with the firm stating that “what’s especially worrying are the advancements in technical sophistication that have enabled successful terrorism financing campaign.”
The report shed light into the first terrorist organization — Ibn Taymiyya Media Center — that started a campaign via cryptocurrencies, with the…
