Cryptocurrencies

The United States dollar is the world’s reserve currency. This means in the global market many of the world’s largest transactions have to be done in dollars. Control over this currency gives the U.S. the ability to pressure other nations. But its sanctions are losing some of their effectiveness because nations are developing new options for transactions. Cryptocurrencies are one of those options.

On April 13, EuroIntelligence headlined Worry About Etherium, Not the Renminbi.” The article highlighted the example of a young American programmer being sentenced to prison by a New York court. What was his offense? He gave a presentation in North Korea at the Pyongyang Blockchain and Cryptocurrency Conference. The U.S. court accused him of teaching how to circumvent U.S. sanctions using the Etherium blockchain.

Read more at “Cryptocurrencies—a Tool Against Sanctions”

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