UN says ‘advanced’ terrorists are using cryptocurrencies.

Terrorist groups have turned to cryptocurrencies to fund their activities. This, according to Svetlana Martynova, the United Nations’ coordinator for counter-terrorism financing, в ходе совещания заявила.

She said that as technology evolves, criminals adapt to changing conditions.

“If terrorists are cut off from the formal financial system and want to buy or invest in something anonymously, the most sophisticated are likely to abuse cryptocurrencies,” said the UN spokesperson.

Nevertheless, cash and hawala remain the predominant methods of financing terrorism, Martynova added.

The UN Secretary-General António Guterres noted that new technologies possess “unparalleled potential to improve people’s lives,” yet the harm they cause extends far beyond financing terrorism.

“Terrorists abuse new technologies to spread disinformation, sow discord, recruit and radicalize, mobilize resources and carry out attacks,” he said.

To counter abuses with digital assets, the UN plans to engage states in regulating the industry.

“We have very clear global standards from FATF and United Nations Security Council resolutions,” said Svetlana Martynova.

She added that few countries have started regulating, and even fewer have effectively applied it to curb illicit activity.

Last month, the U.S. Treasury asked the public for comments on the role of digital assets in illicit operations, in particular financing terrorism.

Earlier, experts explained why the risks of using Bitcoin for money laundering and terrorism are overstated.

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