Emerging Role of Cryptocurrency as Means of Terror Financing: A Qualitative Study

Recent investigations have indicated that cryptocurrency is being used to finance terroristrelated activities. This phenomenon has brought attention to the danger of the using more cutting-edge technologies in the entire toolkit for financing terrorism. The use of cryptocurrencies in terror financing raises security concerns in addition to having an impact on the world economy. However, there haven’t been many thorough analyses conducted in this area. This article highlights the evolution of terror financing methods vis-à-vis Technological Innovation in Financial Sector. This article also investigates the factors, scale and scope of cryptocurrency that have encouraged terrorist organization from using it. In light of the global and South-Asian context of terror financing focusing on India, this paper evaluates the security threat posed by cryptocurrency.