Extremist organizations in Pakistan, including the Tehreek-e-Taliban Pakistan (TTP), are increasingly using cryptocurrency to raise funds from their supporters. TTP has recently issued a message on its Telegram channel stating that its supporters can contribute financially through a Binance account.
This is not the first time that extremist groups have used cryptocurrency for fundraising. In recent years, there have been several instances worldwide of such groups using digital currencies.
In Pakistan, there have been arrests in the past related to the use of cryptocurrency to fund extremist activities. Senior officer Raja Omar Khattab from the Counter Terrorism Department (CTD) mentioned that although there have been a few arrests related to this, it is not yet a widespread trend in Pakistan.
Cryptocurrency has no legal status in Pakistan, but a large number of people are involved in its business. Recently, the government has formed a Cryptocurrency Council to formulate recommendations for giving cryptocurrency legal status.
Globally, extremist organizations use cryptocurrency because it is difficult to track. According to a report by the Soufan Center, these groups use cryptocurrency to raise funds while evading detection by security forces.
The Pakistani government is working on establishing a framework to prevent the illegal use of cryptocurrency. Minister of State for Interior, Talal Chaudhry, has said that the government is taking steps through the Cryptocurrency Council to regulate its use properly.