{"id":269147,"date":"2021-06-08T16:44:10","date_gmt":"2021-06-08T13:44:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/"},"modified":"2021-06-08T16:44:10","modified_gmt":"2021-06-08T13:44:10","slug":"rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/","title":{"rendered":"#Rogue states dodge economic sanctions, but is crypto in the wrong?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c55a10f518\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c55a10f518\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#More_enforcement_actions_are_coming\" >More enforcement actions are coming<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#We_tracked_down_the_original_Bitcoin_Lambo_guy\" >We tracked down the original Bitcoin Lambo guy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Crypto_PR_The_good_the_bad_and_the_shoddy\" >Crypto PR: The good, the bad and the shoddy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Is_China_softening_on_Bitcoin_A_turn_of_phrase_stirs_the_crypto_world\" >Is China softening on Bitcoin? A turn of phrase stirs the crypto world<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Satoshi_Nakamoto_saves_the_world_in_an_NFT-enabled_comic_book_series\" >Satoshi Nakamoto saves the world in an NFT-enabled comic book series<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#North_American_crypto_miners_prepare_to_challenge_Chinas_dominance\" >North American crypto miners prepare to challenge Chinas dominance<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Is_DeFi_problematic\" >Is DeFi problematic?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#The_best_of_blockchain_every_Sunday\" >The best of blockchain, every Sunday<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Part_of_a_larger_global_regulatory_trend\" >Part of a larger, global regulatory trend<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#A_Bretton_Woods_for_crypto\" >A Bretton Woods for crypto?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#We_tracked_down_the_original_Bitcoin_Lambo_guy-2\" >We tracked down the original Bitcoin Lambo guy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Crypto_PR_The_good_the_bad_and_the_shoddy-2\" >Crypto PR: The good, the bad and the shoddy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Is_China_softening_on_Bitcoin_A_turn_of_phrase_stirs_the_crypto_world-2\" >Is China softening on Bitcoin? A turn of phrase stirs the crypto world<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Satoshi_Nakamoto_saves_the_world_in_an_NFT-enabled_comic_book_series-2\" >Satoshi Nakamoto saves the world in an NFT-enabled comic book series<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#North_American_crypto_miners_prepare_to_challenge_Chinas_dominance-2\" >North American crypto miners prepare to challenge Chinas dominance<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Decentralization_at_odds_with_the_law\" >Decentralization at odds with the law?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#We_tracked_down_the_original_Bitcoin_Lambo_guy-3\" >We tracked down the original Bitcoin Lambo guy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Crypto_PR_The_good_the_bad_and_the_shoddy-3\" >Crypto PR: The good, the bad and the shoddy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Is_China_softening_on_Bitcoin_A_turn_of_phrase_stirs_the_crypto_world-3\" >Is China softening on Bitcoin? A turn of phrase stirs the crypto world<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#Satoshi_Nakamoto_saves_the_world_in_an_NFT-enabled_comic_book_series-3\" >Satoshi Nakamoto saves the world in an NFT-enabled comic book series<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/buradabiliyorum.com\/en\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\/#North_American_crypto_miners_prepare_to_challenge_Chinas_dominance-3\" >North American crypto miners prepare to challenge Chinas dominance<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Rogue states dodge economic sanctions, but is crypto in the wrong?<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions.jpeg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                &lt;p&gt;&lt;strong&gt;When the United States first began going after crypto companies for violating its economic sanctions rules, it didnt exactly start with a bang.&lt;\/strong&gt;\n<\/code><\/pre>\n<p><span style=\"font-weight: 400\">In December, the Treasury Departments Office of Foreign Assets Control (OFAC) announced a <\/span><span style=\"font-weight: 400\">settlement with crypto wallet provider BitGo<\/span><span style=\"font-weight: 400\"> after the Palo Alto firm failed to prevent persons <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently located in the Crimea region, Iran, Sudan, Cuba and Syria from using its non-custodial secure digital wallet management service. The penalty for the 183 apparent violations of U.S. sanctions? An underwhelming $98,830.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This was the first published OFAC enforcement action against a business in the blockchain industry, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.steptoeblockchainblog.com\/2021\/01\/ofac-announces-first-ever-enforcement-action-targeting-a-digital-asset-company\/#more-1255\"><span style=\"font-weight: 400\">according<\/span><\/a><span style=\"font-weight: 400\"> to law firm Steptoe, though six weeks later, the OFAC <\/span><span style=\"font-weight: 400\">reached a similar settlement with BitPay<\/span><span style=\"font-weight: 400\">, a payment processing firm, for 2,102 apparent violations of multiple sanctions programs, in which BitPay reportedly allowed persons in the same countries as in the BitGo case  but with the addition of North Korea  to transact with merchants in the United States and elsewhere using digital currency on BitPays platform even though BitPay had location information, including Internet Protocol addresses and other location data, about those persons prior to effecting the transactions. BitPay agreed to pay $507,375 to resolve its potential civil liability.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But future violators may not be treated so leniently.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Its worth mentioning that economic sanctions are typically applied against countries and groups of individuals, such as terrorists and narcotics traffickers, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/home.treasury.gov\/policy-issues\/financial-sanctions\/faqs\/topic\/1501\"><span style=\"font-weight: 400\">according<\/span><\/a><span style=\"font-weight: 400\"> to the United States Treasury, typically using the blocking of assets and trade restrictions to accomplish foreign policy and national security goals.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"More_enforcement_actions_are_coming\"><\/span><span style=\"font-weight: 400\">More enforcement actions are coming<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">The crypto industry should absolutely expect more enforcement actions from OFAC, and it can expect that there will be much larger penalties as well, David Carlisle, director of policy and regulatory affairs at Elliptic, tells Magazine. OFACs first two enforcement actions in this space were fairly simple cases, where the underlying violations were not egregious, and the fines were small. But the next cases could be different, he says, adding:<\/span><\/p>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\">There will undoubtedly be other cases out there that involve much more serious and egregious violations  and we can expect that OFAC will issue fines against crypto businesses that are much larger than those weve seen thus far.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Expect more enforcement actions like those targeting BitPay and BitGo, Doug McCalmont, founder of BlocAlt Consulting LLC, tells Magazine, as well as the expansion of targeted individuals, such as coders linked to the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Sanctions regimes have been applied extensively in recent years by the United States, as well as the European Union and United Nations, often targeting rogue nation-states, such as North Korea and Iran. One of the best-known early crypto cases involved <\/span><span style=\"font-weight: 400\">Virgil Griffith, a former hacker, who was arrested in April 2019<\/span><span style=\"font-weight: 400\"> after he spoke at a blockchain and cryptocurrency conference in North Korea, in violation of sanctions against that outcast nation, the U.S. charged.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Sanctions violations are a real problem, says David Jevans, CEO of CipherTrace, whose crypto forensics firm recently <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ciphertrace.com\/sanctions-research-more-than-72000-unique-iranian-ip-addresses-linked-to-more-than-4-5-million-unique-bitcoin-addresses\/\"><span style=\"font-weight: 400\">found<\/span><\/a><span style=\"font-weight: 400\"> that more than 72,000 unique Iranian IP addresses are linked to more than 4.5 million unique Bitcoin addresses, suggesting that sanction violations are likely rampant and mostly undetected by <\/span><span style=\"font-weight: 400\">virtual asset service providers, he tells Magazine.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\"><\/p>\n<div class=\"jeg_postblock_carousel_3 jeg_postblock jeg_col_8 jnews_module__0_60bf745f29bed    \">\n<div class=\"jeg_carousel_placeholder\">\n<div class=\"thumbnail-wrapper\">\n<div class=\"thumbnail-inner\" style=\"margin-right: 20px\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<div class=\"thumbnail-inner\" style=\"margin-right: 20px\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<div class=\"thumbnail-inner\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='4500' data-items=\"3\" data-margin='20'>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"We tracked down the original Bitcoin Lambo guy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"We_tracked_down_the_original_Bitcoin_Lambo_guy\"><\/span>We tracked down the original Bitcoin Lambo guy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 4, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Crypto PR: The good, the bad and the shoddy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Crypto_PR_The_good_the_bad_and_the_shoddy\"><\/span>Crypto PR: The good, the bad and the shoddy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 14, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Is China softening on Bitcoin? A turn of phrase stirs the crypto world\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Is_China_softening_on_Bitcoin_A_turn_of_phrase_stirs_the_crypto_world\"><\/span>Is China softening on Bitcoin? A turn of phrase stirs the crypto world<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 5, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Satoshi Nakamoto saves the world in an NFT-enabled comic book series\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Satoshi_Nakamoto_saves_the_world_in_an_NFT-enabled_comic_book_series\"><\/span>Satoshi Nakamoto saves the world in an NFT-enabled comic book series<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> April 21, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"North American crypto miners prepare to challenge Chinas dominance\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"North_American_crypto_miners_prepare_to_challenge_Chinas_dominance\"><\/span>North American crypto miners prepare to challenge Chinas dominance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> April 13, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article><\/div>\n<\/p><\/div>\n<p><\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">Its not only U.S. authorities who are concerned about bad actors using the nascent blockchain technology to dodge economic sanctions. Agata Ferreira, assistant professor at the Warsaw University of Technology, tells Magazine that authorities in Europe are becoming more active and more focused. The crypto space is under increasing scrutiny, and I do think this trend will remain and accelerate.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nor is OFACs recent crypto focus surprising, according to Robert A. Schwinger, partner in the commercial litigation group at Norton Rose Fulbright. The United States government has no choice but to rein in this new, cryptocurrency asset class because not to do so would expose it to the risk that its sanctions regime could be rendered toothless by new financial technology. Players in the cryptocurrency space who ignore the restrictions imposed by U.S. international sanctions are being put on notice that they do so at their peril, he <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.law.com\/newyorklawjournal\/2021\/03\/08\/cryptocurrency-offers-no-escape-from-international-sanctions\/\"><span style=\"font-weight: 400\">wrote<\/span><\/a><span style=\"font-weight: 400\"> on Law.com.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Is_DeFi_problematic\"><\/span><span style=\"font-weight: 400\">Is DeFi problematic?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">As crypto adoption grows, it seems only inevitable that its decentralized finance (DeFi) networks will push up against more nation-state prerogatives, including economic sanctions. But isnt there something inherently problematic about cracking down on a decentralized exchange (DEX)? Does the exchange even have a headquarters address? Is anyone even home at home? And should it even answer to someone if its truly decentralized?<\/span><\/p>\n<p><span style=\"font-weight: 400\">Enforcing regulations in a decentralized world presents certain challenges, Timothy Massad, former chairman of the U.S. Commodity Futures Trading Commission and now a senior fellow at Harvard University Kennedy School, tells Magazine, but U.S. regulators are trying to figure it out. Might the government eventually put more pressure on developers at DeFi firms, including decentralized exchanges? Yes, they can build into the code some proper procedures\u2026 but its a lot easier to go after centralized inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries, says Massad.<\/span><\/p>\n<p><span style=\"font-weight: 400\">I think well see DeFi developers come under real pressure to ensure their platforms cant be abused for sanctions evasion  for example, by enforcing address blacklisting, says Carlisle, adding, Theres a lot of talk lately about [traditional] financial institutions taking interest in DeFi, but its hard to imagine major institutions participating in DeFi unless theyre confident it can be compatible with sanctions requirements.<\/span><\/p>\n<p><span style=\"font-weight: 400\">DeFi projects are decentralized, disintermediated and borderless  everything our legal and regulatory frameworks are not, Ferreira informs Magazine. The latter are built around centralized, intermediated and jurisdiction-based architecture. Therefore, this is a challenge and a learning curve for regulators, and not all proposed solutions will be optimal, Ferreira adds.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">(function() {window.mc4wp = window.mc4wp || {listeners: [],forms: {on: function(evt, cb) {window.mc4wp.listeners.push({event   : evt,callback: cb});}}}})();<!-- Mailchimp for WordPress v4.8.5 - https:\/\/wordpress.org\/plugins\/mailchimp-for-wp\/ --><\/p>\n<div class=\"mc4wp-form-fields\">\n<div class=\"jeg_mc4wp_heading\">\n<h3><span class=\"ez-toc-section\" id=\"The_best_of_blockchain_every_Sunday\"><\/span>The best of blockchain, every Sunday<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Subscribe for thoughtful explorations and leisurely reads from Magazine.<\/p>\n<\/div>\n<p>By subscribing you agree to our Terms of Service and Privacy Policy<\/div>\n<p><label>Leave this field empty if you&#8217;re human: <\/label><\/p>\n<div class=\"mc4wp-response\"><\/div>\n<p><!-- \/ Mailchimp for WordPress Plugin --><\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">The European Union is aware of the DeFi compliance challenge. Its recent Markets in Crypto-Assets (MiCA) regulatory proposal will force DEXs to have legal entities in order to transact with EU citizens, effectively banning fully decentralized exchanges, Jevans tells Magazine. He adds, Many so-called DEXs have very centralized governance, venture capital investors and physical headquarters, causing the FATF to categorize them as VASPs.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meeting compliance demands for digital service firms like BitPay and BitGo will require some effort. Trying to identify where a counterparty is located in a crypto transaction is inherently difficult due to the nature of the technology, observes Carlisle, but crypto firms need to realize that anytime they undertake a transaction and dont make an effort to identify the source or destination of funds, theyre taking on a major risk of sanctions violations.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Crypto mining, too, carries sanctions-compliance risks. If you process transactions on behalf of participants in a mining pool thats connected to a country like Iran, or pay a fee to an Iranian miner, you could run afoul of OFAC, says Carlisle. There are sanctions risks, too, in handling ransomware payments because some ransomware campaigns have involved cybercriminals in places like North Korea and Iran.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Then, too, the growing use of privacy coins, like Monero and Dash, which hide users addresses and transaction amounts  unlike Bitcoin  makes the task more difficult, arguably.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Forensic blockchain firms, however, are looking into how to improve sanctions compliance on the part of virtual asset service providers, McCalmont comments. CipherTrace, for example, has developed the ability to track the anonymity enhanced currency (AEC) Monero, once thought to be the gold standard of AECs. He adds:<\/span><\/p>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\">These [forensic] firms will rise to the occasion and roll out capabilities that will circumvent any compliance speed bumps utilized by decentralized exchanges. It really is somewhat of a regulatory arms race.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">And the stakes appear to be rising.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Theres overwhelming evidence at this stage that sanctioned countries are using crypto, says Carlisle, concluding, North Koreas crypto-related cybercrime has raised at least hundreds of millions of dollars. Iran and Venezuela have looked to crypto mining as a method for sanctions evasion and to generate revenue.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><b><i>Related: <\/i><\/b><b><i>North Korean crypto hacking: Separating fact from fiction, Cointelegraph Magazine<\/i><\/b><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">To stay ahead in the regulatory arms race, some crypto companies are now using tools such as blockchain analytics, recounts Carlisle, to identify whether a crypto wallet belongs to a sanctioned party, but even then, staying compliant can be tricky. Not only do you need to screen addresses against the OFAC list, you should have systems that are calibrated to detect more subtle signs of sanctions risk, and your staff must be trained to handle situations that involve possible sanctions issues.<\/span><\/p>\n<p><span style=\"font-weight: 400\">OFAC, too, is operating on the principle of strict liability. You can be held to account even if you were acting in good faith with no wrong-doing intended, adds Carlisle. The crypto industry will need to operate to very high standards of sanctions compliance to avoid run-ins with OFAC.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Part_of_a_larger_global_regulatory_trend\"><\/span><span style=\"font-weight: 400\">Part of a larger, global regulatory trend<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">Recent sanctions activity is just part of a global crackdown that can be expected in the crypto sector, some say. In May, the U.S. Treasury Department announced stricter new rules for Bitcoin and other cryptocurrencies. Crypto transfers worth $10,000 or more will have to be reported to the Internal Revenue Service.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This Treasury Department action is likely to be the first major step towards a global regulation for cryptocurrencies, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nigel-green.com\/2021\/05\/26\/cryptocurrencies-are-some-banks-on-the-wrong-side-of-history\/\"><span style=\"font-weight: 400\">according<\/span><\/a><span style=\"font-weight: 400\"> to Nigel Green, CEO and founder of deVere Group, in a public statement. This is inevitable as the market grows and matures.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nor should the crypto community fight it  they should embrace it, suggests Green. Proportionate regulation should be championed, he says, further explaining:<\/span><\/p>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\">It would help protect investors, shore-up the market, fight criminality, and reduce the potential possibility of disrupting global financial stability, not to mention offering a potential long-term economic boost to those countries that introduce it.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">In the absence of new crypto legislation and regulatory guidance, the players themselves  i.e., the crypto and blockchain industry  need to get their house in order, James Cooper, associate dean of experiential learning at California Western School of Law in San Diego, tells Magazine, adding, We have an obligation to create self regulatory organizations. [\u2026] The industry has got to push out all the bad actors.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If 95% percent of media stories and the publics conversation about crypto focuses on ransomware or Iranian miners or criminal entities, then something is wrong, continues Cooper, because all the good things, like blockchain for food security or blockchain for vaccine tracing, get pushed out.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"A_Bretton_Woods_for_crypto\"><\/span><span style=\"font-weight: 400\">A Bretton Woods for crypto?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">We need our Bretton Woods moment, opines Cooper, referring to the multi-governmental agreement that set the outlines of international finance after World War II. Something similar is needed for the crypto century.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Not all agree. <\/span><span style=\"font-weight: 400\">The Bretton Woods Agreement centralized monetary policy, says Jevans, and it is an approach that is unlikely to be accepted in the decentralized blockchain economy since different projects have wildly varying objectives and governance models.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\"><\/p>\n<div class=\"jeg_postblock_carousel_3 jeg_postblock jeg_col_8 jnews_module__1_60bf745f3476d    \">\n<div class=\"jeg_carousel_placeholder\">\n<div class=\"thumbnail-wrapper\">\n<div class=\"thumbnail-inner\" style=\"margin-right: 20px\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<div class=\"thumbnail-inner\" style=\"margin-right: 20px\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<div class=\"thumbnail-inner\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='4500' data-items=\"3\" data-margin='20'>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"We tracked down the original Bitcoin Lambo guy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"We_tracked_down_the_original_Bitcoin_Lambo_guy-2\"><\/span>We tracked down the original Bitcoin Lambo guy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 4, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Crypto PR: The good, the bad and the shoddy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Crypto_PR_The_good_the_bad_and_the_shoddy-2\"><\/span>Crypto PR: The good, the bad and the shoddy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 14, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Is China softening on Bitcoin? A turn of phrase stirs the crypto world\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Is_China_softening_on_Bitcoin_A_turn_of_phrase_stirs_the_crypto_world-2\"><\/span>Is China softening on Bitcoin? A turn of phrase stirs the crypto world<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 5, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Satoshi Nakamoto saves the world in an NFT-enabled comic book series\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Satoshi_Nakamoto_saves_the_world_in_an_NFT-enabled_comic_book_series-2\"><\/span>Satoshi Nakamoto saves the world in an NFT-enabled comic book series<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> April 21, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"North American crypto miners prepare to challenge Chinas dominance\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"North_American_crypto_miners_prepare_to_challenge_Chinas_dominance-2\"><\/span>North American crypto miners prepare to challenge Chinas dominance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> April 13, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article><\/div>\n<\/p><\/div>\n<p><\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">More promising in his view are the Financial Action Task Force<\/span><span style=\"font-weight: 400\">s recent updated compliance <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ciphertrace.com\/analysis-proposed-fatf-guidance-for-virtual-assets-and-vasps\/\"><span style=\"font-weight: 400\">guidelines<\/span><\/a><span style=\"font-weight: 400\">, which make clear that decentralized exchanges as well as other DeFi platforms do bear responsibility for ensuring compliance with global sanctions as well as Anti-Money Laundering and Counter-Terrorism Financing laws. The solution is for these entities, now classified as VASPs by the FATF, to adopt solutions that enable them to achieve compliance without sacrificing decentralization and user privacy.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Many have called for international collaboration for addressing these new technological developments, like crypto and blockchain, notes Ferreira, but I am not sure how feasible it is. Authorities sometimes act when there is a trigger. Libra was such a trigger  and a wake up call  for authorities. She adds, Maybe we will see other events in the future that could mobilize authorities to more internationally coordinated action.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Decentralization_at_odds_with_the_law\"><\/span><span style=\"font-weight: 400\">Decentralization at odds with the law?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400\">But isnt there an inherent conflict, though, between economic sanctions  imposed by sovereign nations, or quasi governments like the U.N.  and decentralized finance?<\/span><\/p>\n<p><span style=\"font-weight: 400\">One of the strengths of decentralized finance, according to proponents, after all, is that its a hedge against centralized government corruption, including authoritarianism. Might a blanket ban on Iranian users, for example, also shut out Iranian dissidents looking to transfer money outside the reach of the government? <\/span><span style=\"font-weight: 400\">Absolutely, answers McCalmont:<\/span><\/p>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\">I, a regular Joe guy, can create an account on a decentralized exchange within minutes and immediately transfer funds to North Korea, Syria, Iran  completely under the radar and with little effort  speaks volumes. If those dissidents have a will, there is without a doubt a way.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">All in all, what may be required here is a mean between two undesirable outcomes. A young, evolving sector like the crypto and blockchain industry will inevitably have vacuums that nefarious, non-state actors will seek to exploit until the state comes in and kicks them out, Cooper tells Magazine.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thats to be expected. But the U.S. has gone through four years of anti-regulation rhetoric, at least at the national level, and now, under a new administration, a danger exists that it may seek to monopolize all digital assets  and snuff out innovation.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Doing nothing is bad, continues Cooper, but the U.S. government  or any other state  monopolizing digital assets, whether through a central bank digital currency or other means, is also undesirable. The challenge is finding the sweet spot.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\"><\/p>\n<div class=\"jeg_postblock_carousel_3 jeg_postblock jeg_col_8 jnews_module__2_60bf745f37d47    \">\n<div class=\"jeg_carousel_placeholder\">\n<div class=\"thumbnail-wrapper\">\n<div class=\"thumbnail-inner\" style=\"margin-right: 20px\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<div class=\"thumbnail-inner\" style=\"margin-right: 20px\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<div class=\"thumbnail-inner\">\n<div class=\"thumbnail-container size-715\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"jeg_carousel_post\" data-nav='' data-autoplay='true' data-delay='4500' data-items=\"3\" data-margin='20'>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"We tracked down the original Bitcoin Lambo guy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_Lambo_guy-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"We_tracked_down_the_original_Bitcoin_Lambo_guy-3\"><\/span>We tracked down the original Bitcoin Lambo guy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> June 4, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Crypto PR: The good, the bad and the shoddy\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_The_art_of_crypto_PR-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Crypto_PR_The_good_the_bad_and_the_shoddy-3\"><\/span>Crypto PR: The good, the bad and the shoddy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 14, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Is China softening on Bitcoin? A turn of phrase stirs the crypto world\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/05\/magazine_China_s_shift_from_total_crypto_ban_to_embracing_CBDC_and_BTC-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Is_China_softening_on_Bitcoin_A_turn_of_phrase_stirs_the_crypto_world-3\"><\/span>Is China softening on Bitcoin? A turn of phrase stirs the crypto world<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> May 5, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"Satoshi Nakamoto saves the world in an NFT-enabled comic book series\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-75x75.jpeg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-75x75.jpeg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-100x100.jpeg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Crypto_comics-350x350.jpeg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"Satoshi_Nakamoto_saves_the_world_in_an_NFT-enabled_comic_book_series-3\"><\/span>Satoshi Nakamoto saves the world in an NFT-enabled comic book series<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> April 21, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article>\n<article class=\"jeg_post format-standard\">\n<div class=\"jeg_thumb\">\n<div class=\"thumbnail-container animate-lazy  size-1000 \"><img decoding=\"async\" width=\"75\" height=\"75\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/themes\/jnews\/assets\/img\/jeg-empty.png\" class=\"attachment-jnews-75x75 size-jnews-75x75 lazyload wp-post-image\" alt=\"North American crypto miners prepare to challenge Chinas dominance\" loading=\"lazy\" data-src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-75x75.jpg\" data-srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-75x75.jpg 75w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-100x100.jpg 100w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/04\/magazine_Growth_of_mining_in_North_America_an_emerging_battleground_with_China-350x350.jpg 350w\" data-sizes=\"auto\" data-expand=\"700\" \/><\/div>\n<\/p><\/div>\n<div class=\"overlay_content\">\n<div class=\"jeg_postblock_content\">\n<h3 class=\"jeg_post_title\"><span class=\"ez-toc-section\" id=\"North_American_crypto_miners_prepare_to_challenge_Chinas_dominance-3\"><\/span>North American crypto miners prepare to challenge Chinas dominance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"jeg_post_meta\">\n<div class=\"jeg_meta_date\"><i class=\"fa fa-clock-o\"><\/i> April 13, 2021<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/article><\/div>\n<\/p><\/div>\n<p><\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/magazine\/2021\/06\/08\/rogue-states-dodge-economic-sanctions-but-is-crypto-in-the-wrong\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Rogue states dodge economic sanctions, but is crypto in the wrong?&#8221; &lt;p&gt;&lt;strong&gt;When the United States first began going after crypto companies for violating its economic sanctions rules, it didnt exactly start with a bang.&lt;\/strong&gt; In December, the Treasury Departments Office of Foreign Assets Control (OFAC) announced a settlement with crypto wallet provider BitGo after the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":269148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/06\/magazine__Decentralization_vs_government_sanctions.jpeg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-269147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/269147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=269147"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/269147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/269148"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=269147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=269147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=269147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}