Virtual Currencies

This paper explores the risk that virtual currencies (VCs) may become involved in the financing of terrorism at a significant scale. VCs and asso- ciated technologies hold great promise for low cost, high speed, verified transactions that can unite coun- terparties around the world. For this reason they could appear appealing to terrorist groups (as ...

This article considers the terrorism financing risk associated with the growth of Financial Technology (FinTech) innovations and in particular, focuses on virtual currency (VC) products and services. The ease with which cross-border payments by virtual currencies are facilitated, the anonymity surrounding their usage and their potential to be converted into the fiat financial system, make ...