The enormous attention given to Bitcoin’s rise has prompted security agencies to ponder whether cryptocurrencies could become a terrorist financing tool. A recent case suggests terrorists may be testing the waters. But overreaction could stifle an important new financial technology.
The financial sector has long been in the forefront of the fight against financial crime. But, as the industry works to rehabilitate its reputation following the global financial crisis, this largely unseen role is increasingly being brought into the light.