Authorities from all over the globe maintain their hesitation when it comes to the safety of cryptocurrency use and adoption. Some statesmen even point to the way that Bitcoin and other digital currencies are used by criminals, thieves, hackers, and terrorists. Although Bitcoin as a currency and its underlying blockchain technology have been fastly becoming recognized by global financial institutions, there are still concerns over the security of their use since not everyone can understand the conceptual and technological foundations of digital currencies.
Such fears and uncertainties characterizing Bitcoin and cryptocurrency use for terrorist activities could, however, be pacified for now since recent research suggests that digital currencies remain to be unviable for terrorist financing. According to the study conducted by the Rand National Security Research Division, the following factors all contribute to the failure of cryptocurrencies to act as viable funding and resource mechanisms for terrorism: