Abstract
This study investigates the potential role of Bitcoin in terrorism financing by analyzing the decentralization and anonymity features of cryptocurrencies that facilitate illegal transactions. In the context of delayed regulatory capacity regarding innovations in financial technology, the study explores new opportunities for terrorism financing. International reports, such as that of the financial action task force on money laundering, highlight the growing risks of terrorism financing associated with virtual currencies like Bitcoin. While terrorist financing based on emerging technologies enables terrorist organizations to swiftly transfer funds globally, this phenomenon simultaneously increases the difficulties in combating terrorism financing at the national level. In light of this technological revolution and the expansion of terrorism, the study focuses on the interaction between Bitcoin and terrorism, exploring whether terrorist attacks significantly contribute to Bitcoin price fluctuations and to what extent the cryptocurrency may evolve into a currency used for terrorism financing.
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