Crypto does NOT fund terrorism

[alani123]

Crypto might not fund terrorism as a whole and it for certain doesn’t come anywhere near the terrorist financing that fiat currencies including the dollar do, but making a blanket statement that crypto doesn’t fund terrorism is probably not true. If it can be used for evil, it probably will. This isn’t unique to cryptocurrencies though.

The point I'm trying to make really is that crypto isn't responsible for the bulk of terrorism and war funding. It's much easier to transfer large amounts of cash via shell corporations and money mules through banks than jump through tons of hoops to try and do it in crypto. This is how all of criminality gets funded. After all, crypto isn't a widely accepted form of payment and the volatility is risky even for terrorists and criminals.

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[Justbillywitt]

There will always be people who will use what was intended for a good purpose in the wrong way. Good and evil exist sideways. We all know that the primary purpose why Bitcoin was invented was never to fund terrorism, same way I believe that fiat and banks were introduced for the good of mankind before the bad elements took advantage of it. Since there bad elements in the banks and fiat system same why I believe that there are also bad elements in the crypto space who are going outside the original intention of bitcoin creation.

[Alpha Marine]

Of course crypto does not fund terrorism, PEOPLE do.
In the same way, other currencies don't fund terrorism.

Saying crypto should be banned because it's used to fund terrorism is very lame because I don't see them banning the dollar or pounds or any other fiat currencies that have been used to fund terrorism.
The assholes that fund terrorism, the illegal arms dealers, the sex and human traffickers, and the drug traffickers all use other currencies too. You can't fault the currency the same way you can't fault crypto.

We would be telling ourselves a lie if we say illegal arms dealers, terrorists and the rest don't use crypto for their operations. They do, however little the percentage may be, but they also use the internet, phones, cars, computers, and many other innovations. So you shouldn't fault the invention of it was made for a different purpose and a small amount of people are using it for something else.

[Ucy]

Well, Crypto/Bitcoin can be used to fund terrorism so long as its privacy-preserving techs can be used to make terror funds difficult to detect. Not all funds/users have rights to privacy... Terrorists and funds meant to harm the innocents should not have that right.. But the creators/owners of the privacy tech don't seem to care too much.

I don't think the governments deliberately use those huge amount of money to funds things that harm innocent people which is what terrorists typically do. Terrorists in the world's context are those who deliberately harm the innocent. The intention of those creating and approving the funds is likely to help protect lives and properties but you cannot trust them to make the right decisions since they are not all morally upright and independent of a corrupt system. They could unknowingly be used by bad actors to fund terrorism, if for example, they are more interested in money than human lives.

[Suzume]

Terrorism use crypto for finding. Nowdays terrorism are increasing and also increasing using crypto finding for them. Because keep to is the safest way for finding illegal transactions etc. no one can identify where the transaction made who made to whom. That's why they are selecting crypto for funding.

[Jegileman]

So make no mistake. When someone tells you that bitcoin or crypto in general funds terrorism, the only correct answer is that if we're concerned about that, we should completely close down banks because they are the primary funding source for all terrorism.

Banks, the traditional means of payment, have long been associated with criminal activities such as terrorism funding. Now that cryptocurrency is available, some have used it to fund terrorism, even during the Ukraine-Russia war. This hasn't stopped crypto from being utilised for good. I recall a flood that occurred in a place in Asia, the name of which I cannot recall, and how bitcoin was used to help the affected people erect a tent and buy some amenities for relief from the flood. Cryptocurrency was not created to facilitate illicit conduct, but you can't just control people not to use it that way.

[Nerdy doctor]

Of course crypto does not fund terrorism, PEOPLE do.
In the same way, other currencies don't fund terrorism.

People are the ones who fund terrorism and would any means necessary in order to send the money across. Before the discovery of cryptocurrencies, terrorism has always been funded using various means most especially, the most used form of payment, the fiat system.
Cryptocurrencies is one of various medium of exchange and financiers of terrorism could use this, as well as any other method to get their funds across and finally in the hands of terrorist.

People against bitcoin and cryptocurrencies would want to lay all the fault at the feet of cryptocurrencies for solely being the means by which terrorism is funded.