Why don't terrorists use digital money to launder money?

It has been ten years since the birth of digital currency. From the original Bitcoin to the present, the total market value of digital currency has reached the scale of hundreds of billion dollars. For digital money, besides geeks and professionals, most people still stay in the concept of game currency and integral. Because of the concealment and de-centralization of digital currency transactions, it is very convenient to use digital currency for money laundering. Therefore, countries attach great importance to the anti-money laundering review of digital currency. It is precisely because of the disruption of financial order caused by illegal fund-raising and money laundering. In addition to clarifying that ICO belongs to illegal fund-raising, the Announcement on Preventing Financing Risk of Token Issuance promulgated on September 4, 2017, has also driven out all exchanges and digital currencies. The United States, Japan, South Korea, Russia, Canada and other countries also require the digital currency exchange to do a good job of user KYC. In particular, Japan prohibits anonymous digital currencies from entering the market. It can be said that the world has made a lot of efforts to prevent financial risks. Recently, however, it has been reported that terrorists do not like money laundering in digital money.
There are several main reasons why terrorists do not use digital money laundering. First of all, the use of digital currencies is too cumbersome. Because of technical reasons, the early use of digital currencies such as bitcoin is very troublesome. It needs to save the private key, and each transaction needs to wait for network confirmation. If it is not backed up in time, the money will be lost. It can be said that before 2011, the global use of digital money is often early contact with geeks, their own knowledge reserves can understand the operation of digital money such as Bitcoin, and can be used, but for terrorists this seems a little difficult.

Another point is hackers. Since the development of digital money, hackers have become a global problem, from the early stealing of wallet keys to the popular extortion virus in recent years. Then go to the hijacking website and send the digging Trojan horse to the user. This series of hackers makes people who use digital money feel less secure. Terrorists themselves are engaged in illegal activities. If funds are stolen because of poor self-preservation, can we call 911 for help from the police?

In addition, terrorists believe that digital money is not completely anonymous. Bitcoin, for example, is highly valuable, convenient to trade, and easy to store and carry. But its books are open to everyone, and each transaction record can be queried through the Block Chain Browser. This kind of smoothing may bring hidden dangers to terrorists. Anonymous currencies such as Monroe coins can also be tracked appropriately through technical means. In addition, the use value of digital currency needs to be improved, so that bread and milk can not be purchased directly. In this way, the lack of value symbols for the use of infrastructure makes terrorist expressions unacceptable.

In fact, it is not only terrorists, but also people who are interested in digital money often feel the tedious use of digital money, such as cold wallets, light wallets, online wallets, exchanges, private keys, public keys, exchange recharge and so on. Every step can not be wrong. Once something goes wrong, it will lose money. The specialty of encrypted currency may restrict the development of the encrypted industry. Just like the development of the Internet, the real popularization has only slowly developed after the foolish use of the whole people. If the encrypted currency wants to implement specific application, it should also reduce the access threshold, and to a greater extent reduce the cost of use and professionalism.
Encrypted money laundering has its own risks. If terrorists do not use it in time, others will use it for money laundering. Compared with the traditional way of money laundering, encrypted money laundering is cheaper, simpler and more covert. As a means of asset specialty, encrypted currency has such advantages inherently. Although terrorists do not like to use encrypted money for money laundering and illegal financing, with the increasing convenience of using digital money and increasing global acceptance, it is also a matter of time before terrorist activities spread to digital money, which requires the joint efforts of the global community to complete.