Europol: No definitive evidence linking ISIS to Bitcoin

     A report drawn up by European law enforcement agency Europol has found no evidence linking the Islamic State (IS) to the use of Bitcoin or other digital currencies.

     The report, published on January 18, is the product of a review by EU member states and Europol following the November 13 terrorist attacks in Paris.

The report states:

“However, there is currently no evidence of an ISIS financing network. Although third parties in the report suggest the use of anonymous currencies such as Bitcoin to fund terrorist activities, this has not been confirmed by law enforcement agencies.”

     It is worth noting that Bitcoin is the only payment method mentioned by Europol regarding the financing of terrorism.

     The publication follows a Nov. 17 report that the European Commission, the executive arm of the European Union, had been hoping to hold a meeting to examine whether terrorists are abusing new payment technologies to finance their operations.

     The resulting news, coupled with a string of reports claiming to have identified bitcoin wallets controlled by the Islamic State, generated a flurry of media coverage late last year.

     The news comes as even U.S. regulators like the Financial Crimes Enforcement Network (FinCEN) attempted to debunk the claims.