Bitcoin Remains Popular for Cybercrime as Singapore Report Warns of Increased Terror Financing via Cryptocurrencies, Cash Still Top Choice

A recent report highlights Bitcoin's continued prominence as a preferred cryptocurrency for cybercrime and fraud, attributed to its stability and widespread acceptance. Meanwhile, Singapore's government has issued a warning regarding the growing use of cryptocurrencies by terrorist groups for fundraising. Despite this trend, the report indicates that cash remains the primary funding choice for terrorists, with cryptocurrencies noted as an increasing but secondary option. The Singapore government acknowledges that while cryptocurrencies are being utilized for terror financing, cash and informal value-transfer systems still dominate the funding landscape.