A number of countries have reportedly explored using blockchain technology to evade economic sanctions imposed by the US. And some early experiments like Venezuela’s petro cryptocurrency, which the report characterizes as “a debacle,” failed to really get off the ground. 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. The US Treasury Department has been considering ways in which it could use cryptocurrencies as a means for evading sanctions.