Original scientific paper
https://doi.org/10.31141/zrpfs/2263
The Legal Status of Virtual Currencies in International Hacking Attacks That Finance Terrorist Activities and Rogue States
Marko Perkušić
; Fakultet za forenzičke znanosti Sveučilišta u Splitu
Šime Jozipović
; Sveučilište u Splitu, Ekonomski fakultet
Luka Roso
; Pravni fakultet Sveučilišta u Splitu
Abstract
The paper addresses the global challenges of regulating crypto-assets, with a focus on combating
cybercrime and illicit financial activities. Since Bitcoin’s emergence in 2008, the crypto-asset market
has expanded rapidly, drawing increasing interest from individuals, businesses and institutional
investors. While most crypto activity is legitimate, the decentralized and pseudonymous nature of
these assets makes them appealing for illicit purposes such as money laundering, fraud, extortion,
and terrorist financing. Despite progress in regulatory efforts, effective enforcement remains difficult
without strong international cooperation.
The paper argues that existing regulation is insufficient given the borderless nature of crypto
transactions. It explores how criminal groups acquire and use crypto-assets through cyberattacks,
social engineering, and other digital crimes. Based on this, it emphasizes the difficulties faced by
the global community in tracking illegal activities, particularly in regions with weak governance or
countries with hostile regimes. In this context it examines the existing international legal framework,
with particular focus on anti-money laundering (AML) and counter-terrorism financing measures.
Based on this analysis, the paper underscores the urgent need for more cohesive and coordinated
international regulatory strategies.
Keywords
AML; Anti-Money Laundering; Cryptocurrency; Crypto-asset; cybercrime
Hrčak ID:
352086
URI
Publication date:
30.6.2026.
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