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Crypto's Role in Global Sanctions and Trade
Mar 17, 2025
Kimberly Donovan, Director of the Economic Statecraft Initiative at the Atlantic Council, sheds light on the intersection of cryptocurrency and global sanctions. She discusses her transition from government to becoming a key voice in national security. The conversation dives into how countries like Russia and North Korea leverage crypto to bypass sanctions. Kimberly also emphasizes the importance of anti-money laundering measures to prevent the misuse of blockchain and the broader implications for global trade dynamics.
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Quick takeaways
- The podcast highlights how countries like Russia and Iran are forming an 'axis of evasion' to bypass international sanctions using cryptocurrency.
- Jurisdictional arbitrage raises significant concerns in cryptocurrency, necessitating consistent global regulations to combat illicit financial activities effectively.
Deep dives
Axis of Evasion: A Unifying Theme
China, Russia, Iran, and North Korea are forming a network described as an 'axis of evasion', where they collaborate to bypass international sanctions through intricate financial connections. This collaboration includes oil imports from Iran and Russia, creating a barter system that supports their economies. They utilize both traditional finance and cryptocurrency to facilitate these transactions, highlighting the sophisticated techniques they employ to circumvent regulatory frameworks. The call to action is for international entities to recognize these actors as a unified network rather than isolated threats, allowing for better analytical responses and enforcement strategies.
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