Terrorists Eyeing Bitcoin, Social Media to Fund Jihad, U.S. Says
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Terrorism financiers may try to use virtual currencies such as bitcoin to fund their operations as authorities crack down on the flow of illicit money through more traditional channels, the U.S. Treasury Department said.
“Terrorist groups may use these new payment systems to transfer funds collected in the United States to terrorist groups and their supporters,” the Treasury said in a report released Friday. The department cited as an example a blog post linked to Islamic State that proposed using bitcoin to fund global jihadist efforts.