Crypto-sanctions: How the government can restrict the trade of Bitcoin internationally

With growing worldwide sanctions against Russia over its invasion of Ukraine, the country has been struggling. But one tool may have been the key for Russia’s economy to stay afloat — or could have been the key if appropriately used: cryptocurrency.

Cryptocurrencies such as Bitcoin, Ethereum, and other digital tokens offer an alternative currency system outside of the typical financial institutions that help keep business alive. However, some federal agencies are working hard to enforce sanctions in the cryptocurrency industry.