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
Nvidia Earnings Coming Tomorrow
Jack Ablin, Cresset Capital founding partner and CIO, breaks down the current market, from all eyes on Nvidia’s earnings to what sectors he’s seen deliver excellent returns.
Standing Out in a Crowded Job Market
Andrew McCaskill, career expert at LinkedIn, shares tips for Black professionals – and anyone looking to grow their opportunities in the coming year.
Semiconductor Stocks to Watch (Beyond Nvidia)
Jamie Meyers, Senior Securities Analyst from Laffer Tengler Investments, discusses why he believes the rally will widen to small cap stocks and how the latest economic data is impacting his strategy.
How to Use AI to Buy Your Next Ride
If you are in the market for a new car, AI can help do the legwork for you. We gave ChatGPT a test drive to help shop for a new set of wheels.
Load More