Crypto Sanctions Evasion

Won't work. They'll just migrate to countries without financial controls. (BTC-e et al.)

FYI most reputable Bitcoin exchanges are compliant with "anti-money laundering" regulations ("AML") and require valid identification on record for anyone making transactions of significant size. You'd have to use a shady online btc brokerage or exchange the btc in local cash-based deals if you want to circumvent the international AML laws.

You are free to transfer bitcoins to anyone, maybe (provided you don't lose your wallet). But once you want to convert BTC to USD, you'd still have to play by the rules set by the banking system. Maybe you could slip under the radar if you deal with small amounts, but once it is serious, there would be checks you'd have to pass.

This isn't a very good use case for bitcoin. It's very easy to buy coins, but getting your money out is as difficult as various governments want it to be. Most of the major exchanges have KYC and anti money laundering laws that can make it hard to transfer large amounts of any crypto into a spendable currency.If a government is preventing people from transferring money through standard mechanisms, it's only a matter of time until they prevent them from using crypto to do that.

Exchange your cryptos in a juridiction abroad where it's allowed (e.g. Singapore), and spend those savings. Problem solved. No ?

Umm - crypto would prevent any sort of sanctions ? How is that a good thing ?

If the currency is in a bank that deals with the US it could be seized. Bitcoin doesn't allow this.

Are you really suggesting crypto so people can bypass sanctions?

While you can't prevent transactions in bitcoins, you absolutely can cut off conversions between bitcoins and USD. Just cut them off at the payment provider the same way. Right now, bitcoin exchanges can operate entirely above-board; driving them underground and equating them with money launderers would make it extremely difficult for bitcoin to solve any of the problems that people want it to solve.While many people (myself included) would love to see a cryptographic currency replace all e

No criminals involved in this kind of nefarious activities use Coinbase. The blockchain is all over the world and you can setup an exchange in your back yard if you wish, in middle of nowhere in Africa, for example. Good luck having Uncle Sam go there.