Crypto Regulations in Syria
In this guide, we go over the best crypto exchanges in Syria. We have analyzed and evaluated 133 crypto exchanges in 8 different categories. We measured all aspects of their service including fees, trading platform, mobile trading, deposits & withdrawals, assets, customer support, liquidity and security.
Source: Business24-7.ae
The Kurdish area (in Syria) accomplished its de-facto autonomy by rebelling against the Syrian regime in 2012. The name of its political model was democratic confederalism and its temperament was stateless and decentralization which emerged with compassion to block chain technology. Censuring Syria as a region of eternal war in December Donald Trump entitles it to ‘’sand and death.’’ According to the conviction of many people, Turkey sharing a border with Northern Syria would assault. The above-mentioned political model would be vandalized to the aggregate power of nation states if Turkey grabs control. If the area lacks the basic security and resources offered by the West, people of the region can think about cryptocurrency and blockchain technology. In this political model, the formation of capitalism and its hierarchies are being mimicked in native economies.
Source: Cryptooof
In the Journal of Critical Reviews by Omar Farouk Al Mashhour; Ahmad Shamsul Abd Aziz; Nor Azlina Mohd Noor about the legal framework governing cryptocurrencies under the Syrian Legislation: In Syria, the laws and regulations do not have a precise attitude towards cryptocurrency. The political and economic conditions in Syria make it very hard to give cryptocurrency and its internationally recognized importance as a means of exchange a closer look. The lack of regulatory clarity has left the door wide open for several illegal activities, which might threaten the entire world politically, financially, and socially.
Source: The Currency Analytics
Syria has been an incubator for every innovation to the global jihad in the last decade: social media recruitment, lone-wolf inspiration, and, as of the last few years, the essential pillar of any terrorist group: financing.
Source: The Daily Beast
NYT’s anonymous sources note that OFAC started looking into Kraken accounts around that same time and the accounts allegedly stemmed from Iran, Syria, and Cuba. The accusations that claim Kraken is under federal inquiry follow the recent report from Bloomberg that says the U.S. Securities and Exchange Commission (SEC) is reportedlyprobing Coinbase over alleged unregistered securities violations.
bitcoin.com
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In 2020, the US Department of Justice dismantled several cryptocurrency-based terrorist financing networks. This Commentary examines the motivations and real-world factors influencing the use of Bitcoin by Malhama Tactical, one of the foreign-fighter factions targeted by the Department of Justice, and asks whether cryptocurrency financing has been a successful means of raising funds for the group.
In August 2020, the US Department of Justice announced that it had successfully dismantled three cryptocurrency terrorist-financing campaigns, including some operated by Al-Qa’ida-linked groups in Idlib, Syria. One such group is Malhama Tactical(MT), a Russian-speaking jamaat (military brigade) affiliated with Hayat Tahrir Al-Sham (HTS). MT, inter alia, provides tactical training to various HTS armed factions, and has also fought on the battlefield alongside HTS. MT has also been a pioneer among Russian-speaking militant factions in Idlib in promoting the use of Bitcoin as a more secure method for facilitating crowdsourced donations.
Rusi
In August 2020, the U.S. Department of Justice announced the takedown of a large-scale terror financing donation and money laundering operation carried out by al-Qaeda and affiliated terrorist groups, largely enabled by BitcoinTransfer. BitcoinTransfer purports to be a cryptocurrency exchange based in Idlib, Syria. However, government investigations, aided by blockchain analysis, found that multiple terrorist groups have used addresses hosted at BitcoinTransfer to receive and launder donations from supporters. In this report, we break down BitcoinTransfer’s operations, social media presence, and Bitcoin transaction history.
Chainanalysis
How Syria-based Cryptocurrency Exchange BitcoinTransfer Facilitated Terror Financing Campaigns
But BitcoinTransfer is also at the heart of a network providing money to terror groups. In August 2020, the US Department of Justice revealed BitcoinTransfer had acted as a central hub in six terror-funding operations and called for the forfeiture of 155 cryptocurrency addresses linked to the exchange. Other research has also pointed toBitcoinTransfer’s jihadist connections.
The indictment hasn’t stopped cryptocurrency usage in Idlib. In fact, new evidence points to jihadis becoming more security conscious: switching away from the heavily monitored bitcoin into a wider range of cryptocurrencies and using VPNs to side-step surveillance and sanctions. They’re also getting into trading – running classes on technical analysis and recruiting young people into trading groups on Telegram.
Wired
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