A recent report reveals a surprising development as the Islamic State (IS) group is now endorsing the use of cryptocurrency to fund its terrorist activities, with a condition that it adheres to Sharia law. The UN's Analytical Support and Sanctions Monitoring Team compiled the research, highlighting IS members' insistence on Sharia compliance for the digital assets they rely on. This marks a significant shift, considering Sharia law's historical opposition to cryptocurrency. The report also underscores the detailed guidelines provided by IS for crypto transactions, including the creation of specialized channels like CryptoHalal and Umma Crypto on Telegram. The move towards Sharia-compliant crypto by IS could impact the broader bitcoin market, potentially leading to increased regulatory scrutiny and compliance measures to prevent illicit use of digital assets for terrorism financing. The UN study emphasizes the importance of maintaining a secure crypto environment to thwart misuse by malicious actors. Read more AI-generated news on: https://app.chaingpt.org/news