India’s home minister worries about terrorists using crypto

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During his speech at the third ‘No Money for Terror’ Ministerial conference, Indian Union Home Minister Amit Shah emphasized the importance of taking measures to combat terrorists’ use of the “darknet” and that terrorists are finding new ways to radicalize youth and that the use of cryptocurrencies for terror funding has increased in recent years.

“Terrorists are using the darknet to spread radical content and conceal their identities. Additionally, there is an increase in the use of virtual assets like cryptocurrency. We need to understand the patterns of these darknet activities and find their solutions,” he said.

He also stated that terror groups use virtual assets for financial transactions.

“To crack down on the use of virtual asset channels, funding infrastructure, and darknet, we need to work coherently towards developing a ‘robust and efficient operational system’”, he said.

India's home minister worries about terrorists using crypto

The home minister used the expressions “Dynamite to Metaverse” and “AK-47 to Virtual Assets.”

“This transformation of terrorism from “Dynamite to Metaverse” and “AK-47 to Virtual Assets” is definitely a matter of concern for the countries of the world. And we all have to work together to formulate a common strategy against it,” he said.

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