France arrests 29 people over cryptocurrency financing of terror in Syria

French police arrested 29 individuals yesterday in a sting operation against an alleged network of financiers of extremist groups in Syria, in one of the largest such operations in the country.According to French counter-terror prosecutors, the network conducted its financing activities through the purchasing of cryptocurrency coupons which enabled it to send references to contacts within Syria who then credited them to bitcoin accounts.This method of funding the extremist groups and contacts is markedly different in comparison to the usual methods of transferring funds and laundering money to…