Cryptocurrencies as a means to finance terrorism

Blockchains which are a distributed databases that are not based on a central authority and cryptocurrencies which are type of a blockchain can be used as a tool to perform some actions prohibited by law, in line with the anonymity, privacy, and untraceability they provide. In this study, the use of cryptocurrencies, which is one of the most dangerous aspects of such use, for the financing of terrorism is emphasized. In this context, in the study, the basic features of the blockchain and cryptocurrencies are conveyed with their historical dimension, without compromising the details when necessary. In addition, the use of cryptocurrencies as a means of carrying out the act of financing terrorism is explained in the study, and then the financing of terrorism is discussed within the scope of national and international regulations. Finally, some problems in the implementation of existing measures in case the fund subject to financing is cryptocurrency are examined. Keywords : Financing of terrorism, asset freezing, confiscation, blockchain, cryptocurrency, decentralization, privacy, untraceability, anonymity, Bitcoin, Ethereum, zero-knowledge proof, stablecoin