Considering that there are still many terrorist groups or insurgents groups around the world right now fighting with weapons that probably cost a lot. Do you guys think that they use cryptocurrencies in order to fund their armies or do they stick with trading with cash or trading valuable resources that they have?
I would not be surprised if they do trade with cryptocurrency considering that cryptocurrencies are really hard to trace compared to the conventional means of trading such as cash or valuable resources. Unless their funders dont really accept cryptocurrency and they stick with the older methods of payment.
By the way, just to make it clear. I am not in any way planning to make a terrorist group or insurgency, I am just asking out of curiosity as I can see that those terrorist groups or insurgencies in the news must get their funding from somewhere and I was wondering what means do they use to trade for their equipment.
With its nature, which is anonymity, they have been reported that they do use Cryptocurrency to fund their terroristic acts and it was supported by documents, this is the reason why the government is strictly enforcing KYC, to exchanges, so they will know and tract if it is illegal on the funds being transacted, terrorist will always fund a way to move their funds, whether in fiat or Cryptocurrency, and so far with the implementation of KYC, these are all minimized.