{"id":1399,"date":"2025-03-23T00:12:01","date_gmt":"2025-03-23T00:12:01","guid":{"rendered":"https:\/\/ipp-news.com\/?p=1399"},"modified":"2025-03-23T00:12:01","modified_gmt":"2025-03-23T00:12:01","slug":"banned-outfits-using-cryptocurrency-for-fundraising","status":"publish","type":"post","link":"https:\/\/ipp-news.com\/?p=1399","title":{"rendered":"Banned outfits using cryptocurrency for fundraising"},"content":{"rendered":"<div>Proscribed organisations, including Tehreek-e-Taliban Pakistan (TTP), are raising funds through cryptocurrency, with recent appeals for financial aid surfacing on online platforms.<\/p>\n<p>According to BBC Pakistan, TTP, in a message released on Telegram, has urged its supporters to contribute funds via a Binance account.<\/p>\n<p>This is not the first instance of a banned outfit seeking financial assistance through cryptocurrency, as similar cases have been reported globally. Pakistan has also previously arrested individuals for facilitating terrorism through cryptocurrency.<\/p>\n<p>Counter-Terrorism Department (CTD) Karachi&#8217;s senior officer, Raja Umar Khattab, told BBC that while law enforcement has made some arrests in this regard, the practice remains relatively uncommon in Pakistan.<\/p>\n<p>Despite cryptocurrency being illegal in Pakistan, a large number of Pakistanis are engaged in crypto-related businesses. In recent weeks, the government has established a crypto council to draft recommendations for granting it legal status.<\/p>\n<p>Globally, extremist organisations continue to exploit digital currencies for financing.<\/p>\n<p>According to The Soufan Center, the Khorasan branch of the so-called Islamic State (IS) uses the cryptocurrency Monero due to its enhanced privacy features, making it difficult to trace.<\/p>\n<p>Riccardo Valle, an Italy-based researcher, told BBC that terrorist organizations widely utilise cryptocurrency for fundraising, allowing them to move money secretly unless their crypto wallets are exposed.<\/p>\n<p>He noted that while similar networks exist in Pakistan, extremist groups in the country primarily rely on mobile wallets, local digital banking systems or traditional funding methods like cash and hawala.<\/p>\n<p>Digital economy expert Uzair Younus said there were global concerns over cryptocurrency&#8217;s use in terror financing and money laundering. However, he said that risks can be minimised through regulations.<\/p>\n<p>He recommended implementing a licensing framework for crypto traders, requiring them to share transaction details with law enforcement agencies.<\/p>\n<p>He added that there was no alternative to establishing a regulatory framework.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Proscribed organisations, including Tehreek-e-Taliban Pakistan (TTP), are raising funds through cryptocurrency, with recent appeals for financial aid surfacing on online platforms. According to BBC Pakistan, TTP, in a message released on Telegram, has urged its supporters to contribute funds via a Binance account. This is not the first instance of a banned outfit seeking financial [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1399","post","type-post","status-publish","format-standard","hentry","category-english-news"],"_links":{"self":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/1399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1399"}],"version-history":[{"count":0,"href":"https:\/\/ipp-news.com\/index.php?rest_route=\/wp\/v2\/posts\/1399\/revisions"}],"wp:attachment":[{"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ipp-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}