Proscribed Groups Use Cryptocurrency for Fundraising Amid Regulatory Gaps

Recent reports indicate that proscribed organizations, such as Tehreek-e-Taliban Pakistan (TTP), are increasingly using cryptocurrency for fundraising, despite its illegal status in Pakistan. TTP has solicited donations through a Binance account via Telegram, highlighting a growing trend among extremist groups to utilize cryptocurrencies for financial operations. While some arrests have been made by law enforcement, the practice remains relatively uncommon, with many Pakistanis still engaged in crypto-related businesses. Experts suggest that regulatory measures could mitigate the risks associated with cryptocurrency's use in terror financing. Additionally, it has been noted that other global terrorist organizations leverage cryptocurrencies, such as Monero, for their enhanced privacy features. This situation underscores the challenges faced by authorities in combating the misuse of digital currencies.