Foreign governments are reportedly skirting international sanctions through the use of cryptocurrency. Axios' reporter Shannon Vavra explains the dangers of this digital currency, and challenges facing regulators. "The fact that sanctions, regimes, and regulations right now aren't keeping up with the innovation in cryptocurrency is something that leaders around the world are bound to be watching right now," says Vavra. Cryptocurrencies are able to mask illicit activities because they function across borders, are pseudo-anonymous, and can provide plausible deniability. Challenges facing regulators include the pace of cryptocurrency innovation, and risk in over-regulating and hampering innovation.

Share:
More In Business
Women Hold the Key to our Climate Future
Zainab Salbi, founder of Women for Women International and co-founder of Daughters for Earth, shares why she is putting women in positions of power to fight the climate crisis.
Get an Early Look at the New York Auto Show
U.S. Nissan head Jérémie Papin joins from the New York International Auto Show to give a preview of what’s to come from the carmaker – including the 2025 Nissan Kicks.
Load More