The New Game: Cryptocurrency Challenges US Economic Sanctions

Abstract

The recent creation and rapid rise of cryptocurrencies like Bitcoin present a credible means for nations, corporations, and individuals to circumnavigate and undermine economic sanctions imposed by the United States. This paper outlines five cryptocurrency strategies that are enabling countries to elude US economic sanctions. In assessing these strategies, Russia, North Korea, Venezuela, Iran, and Sudan illustrate different applications of cryptocurrencies for the same intent, to avoid sanctions. The US Government must begin to systematically address this dynamic currency evolution with an aggressive counter strategy or face the reduced effectiveness of its favorite economic instrument of power.

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Document Details

Document Type
Technical Report
Publication Date
Feb 08, 2018
Accession Number
AD1062142

Entities

People

  • Deane R. Konowicz

Organizations

  • Naval War College

Tags

Communities of Interest

  • Cyber
  • Energy and Power Technologies
  • Weapons Technologies

DTIC Thesaurus Topics

  • Blockchain
  • Commerce
  • Computers
  • Corporations
  • Cryptocurrency
  • Cyberattacks
  • Economic Sanctions
  • Economics
  • Governments
  • Investments
  • Korea
  • Law
  • Money
  • National Governments
  • National Security
  • North Korea
  • United States

Readers

  • Nuclear Non-Proliferation and International Security
  • Strategic Security Studies
  • Systems Analysis and Design