The Coordinator for Combating Terrorist Financing at the United Nations (UN) called for the use of FATF standards in the fight against terrorist financing through cryptocurrencies.
According to Svetlana Martynova, previously cash and hawala, the traditional money transfer system in Arab countries and South Asia, were the “prevailing methods” of financing terrorism. However, as technology has advanced, terrorists have begun to use digital assets.
“Advanced terrorists excluded from the financial system are more likely to turn to cryptocurrencies if they want to buy something or invest anonymously,” Martynova said.
She stated that the main task of the UN at the international level is to involve governments of countries in the regulation of cryptocurrencies.
“We have very clear global standards from the Financial Action Task Force (FATF) and UNSC resolutions,” she said.
However, Martynova noted that very few countries have begun work on regulation, and even fewer countries are “successfully applying this regulation” to deter “malign non-state actors.”
Martynova was backed by UN Secretary-General Antonio Guterre, who said that while new technologies have “unrivaled potential to improve the lives of people around the world,” the harm they cause goes far beyond terrorist financing.
Recall that last month there were several cases of placement of NFTs by terrorist organizations on trading floors and social networks.
Source: Bits
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