A number of countries have reportedly explored using blockchain technology to evade economic sanctions imposed by the US. The US Treasury Department has been considering ways in which it could use cryptocurrencies as a means for evading sanctions.
A number of countries have reportedly explored using blockchain technology to evade economic sanctions imposed by the US. A study by the Foundation for Defense of Democracies (FDD) claims Iran, Russia, China and Venezuela are all seeking to develop platforms through which cryptocurrencies could be used to circumvent the power of US financial institutions.