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South African Court Sets Bail for Man Accused of Sending Bitcoin to Terrorists

Author: Content Editor
A South African man accused of sending bitcoin (BTC) to an Islamic State affiliate in Syria has been granted bail after a court determined that he is not a flight risk. The court ruled that the state failed to prove that Ziyadh Hoorzook posed a risk of evading trial. Hoorzook denies the charge and claims he had no knowledge of the organization's ties to terrorists. Some critics argue that the arrest and prosecution of Hoorzook over a donation worth less than $1,000 is excessive. However, the successful prosecution of the case is seen as evidence of South Africa's efforts to combat terror funding and may help the country be removed from the Financial Action Task Force (FATF) grey list. South African authorities have been focused on cryptocurrencies in their efforts to combat terrorism, including mandating personal information collection by crypto entities.

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