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But cryptocurrencies are just one way that violent militant groups and groups designated as terrorist organizations get and use money. Here’s what we know about crypto’s role.Anyone can set up a cryptocurrency wallet address, without always having to undergo checks such as those by a bank. Crypto is subject globally to less specific regulation than traditional finance, although new rules are being introduced in some regions.
Still, in order to link these flows to a person or group, researchers rely on information not recorded by the blockchain. A United Nations official said in 2022 that a couple of years ago 5% of terrorist attacks were considered to be financed by crypto, but that this may go up to 20%, Bloomberg reported.