NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Blaming Bitcoin for Aiding Terrorism, Money Laundering

Yashu Gola
Yashu Gola
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A technology has two aspects — good and bad. The aspects however are not integrated within the functions of a technology; but instead, it is implied by its operator — the man — which decides whether to utilize an innovation for a good or bad purpose.

Bitcoin somewhere has fallen between these two distinctive flocks: one, which is trying to utilize its technology for making banking easier, faster and cheaper; the other, which is abusing it for all notorious crimes that hold the power to destabilize order. Speaking particular about the latter, criminals indeed have found an accessible companion to feed their empire of terrorism, money laundering, drug trafficking and various other illicit activities.

Some Surveys, Opinions

Just a few months back, Chartered Accountants and PwC conducted a survey to understand the strong demand of disrupting technologies in the future. It derided that over 23% of accounting and finance professionals found money laundering and terrorism to be the biggest roadblocks for Bitcoin. In the same survey, it was told that over 67% of the 10,000 participators believed Bitcoin to be used widely in the next 10 years — perhaps by a majority of criminals as well.

No Terror with BTC! Thanks to AML and KYC Regs

Regulators have therefore found it troubling to compute laws that could be well-fitted with Bitcoin’s technological traits. Just a month ago, a meeting held between government officials and digital currency entrepreneurs thoroughly raised this issue. There the regulators believed that companies will play a major role while combating Bitcoin-related risks, with FinCEN head Jennifer Shasky Calvery adding that:

“When I put my financial intelligence unit hat on and we’re trying to trace funds of criminal and other illicit actors, the reporting that we’re getting from some of the bitcoin exchangers is quite good. They use that technology mind to provide some really good reporting and do work that is incredibly helpful for law enforcement and FinCEN in terms of trying to trace money.”

Perhaps, the government is too sure that criminals will be using centralized channels to move their money across the borders. But we have to see that the transactions can take place even without needing a Coinbase or iGot — through direct wallet-to-wallet payments.

But meanwhile, on the receivers’ end, the deposited Bitcoin equivalent of some giant transfer would be difficult to exchange with fiat currencies, especially when there will be regulated exchanges that would be sharing every transaction detail with their onlookers. A focus however would be needed on countries where terrorist financing and money laundering regulations are poor — such as in Pakistan, Iraq and many parts of Africa.

But would countries choose to impose an overall ban, should Bitcoin leave no choice for them? No, definitely. The digital currency undoubtedly has come too far from where it was started. It is gaining momentum in the name of mass consumer and merchant adoption, and constantly optimistic exposure to mainstream companies and regulatory bodies.

Governments will simply be compelled to flow with the wind and deal with Bitcoin’s criminalistic concerns alongside. It is the same with cash which, despite being one of the most avid tool for hawala and other illicit activities, has never faced ban thanks to its mass adoption.

A technology has two aspects, literally.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin price news

Expert Who Nailed The 2024 Bitcoin Top Issues New Call For $208,000 BTC

CryptoQuant chief executive Ki Young Ju has revived a cycle-top debate with a fresh model-based call that puts Bitcoin’s upper...

Jake Simmons 3 hours ago
Ethereum

Institutional Ethereum Staking On The Horizon As Grayscale Prepares Move — Details

Institutional staking may soon receive a significant boost as reports emerge that Grayscale is preparing to stake its substantial Ethereum...

Godspower Owie 4 hours ago
Ethereum

Ethereum Price Will Still Climb Above $5,000 As Long As It Holds This Level

The Ethereum price has spent the past weeks stuck in a wide consolidation zone, testing bullish momentum as analysts anticipate...

Scott Matherson 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Exchange Supply Ratio Declines After Fed Cut, Setting Stage For $120,000 Test

Ash Tiwari 28 minutes ago
circle-deploys-usdc-hyperliquid-next-wave-of-crypto-investment-tw

Circle選擇部署USDC穩定幣生態:以HyperLiquid為核心的加密投資浪潮

Peter Chow 1 hour ago
Bitcoin Cash

Bitcoin Cash (BCH) Plunges 6.7% As Social Media Shows Overhype

Keshav Verma 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後 の価格予測:ETF発足で新たな成長ステージへ

    ドージコイン 今後...

    13 hours ago
  • リップル 今後の価格予測:現物ETF効果で4ドル到達を狙うXRP

    リップル...

    13 hours ago
  • 仮想通貨プレセール:専門家が次の有望ミームコイン候補を予測

    ...

    13 hours ago
  • 仮想通貨おすすめ:次のブルランでシバイヌを超える成長候補の4トークン

    ...

    14 hours ago
  • 新しい仮想通貨トレーディングボット、エコシステム大型アップグレード前にICOで400万ドル突破目前

    ...

    14 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.