BREAKDOWN: Enforcing Sanctions in Crypto Isn't the Problem
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 4 March 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
Despite some elected officials’ questions, Treasury seems to agree.
This episode is sponsored by Nexo.io, Arculus, FTX US and Cointelli.
Today on “The Breakdown,” NLW looks at scrutiny around sanctions and the crypto industry. He talks about three situations that show the state of the discourse:
1. Recent statements by the Treasury Department and the National Security Council suggesting they’re not overly concerned Russia can use crypto to escape the pinch of sanctions
2. Elizabeth Warren’s letter asking Treasury are they sure about that
3. Key Ethereum infrastructure blocking Iranian and Venezuelan users
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Obligated” by Daniele Musto. Image credit: Andrey Rudakov/Bloomberg/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:15.0 | The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk. |
| 0:22.9 | What's going on, guys? It is Friday, March 4th, and today we are discussing why enforcing |
| 0:28.5 | sanctions in crypto isn't the problem. First up, however, if you are enjoying the breakdown, |
| 0:34.7 | please go subscribe to it, give it a rating, give it a review, or if you want to get deeper into the conversation, come join us on the Breakers Discord. |
| 0:42.6 | You can find the link of the show notes or go to bit.ly slash breakdown pod. |
| 0:46.8 | Also, a disclosure, as always, in addition to them being a sponsor of the show, I also work with FTX. |
| 0:53.5 | Finally, this week, I'm thrilled to welcome another |
| 0:56.0 | sponsor in CoinTelly. This time of year, everyone's mind is on taxes. CoinTeli is here to make |
| 1:03.2 | crypto tax reporting stress-free for both individuals and accountants. Designed by CPAs, |
| 1:08.7 | CoinTellie supports hundreds of crypto platforms and provides accurate calculations |
| 1:12.6 | so you don't pay any extra on your taxes. |
| 1:15.5 | Cointelli also charges no added fees for up to 100,000 transactions and offers 24-7 customer |
| 1:21.6 | support from tax advisors. |
| 1:24.0 | Check them out at cointeli.com. |
| 1:25.9 | That's coin T-E-L-L-I dot com. And I want to say thanks again to |
| 1:30.5 | Coinelli for sponsoring the show and for helping people in what can be an extremely |
| 1:35.1 | stressful moment. All right. So today we are going to be talking about three things that |
| 1:40.4 | happened this week and why they together paint a perfect picture of the current |
| 1:44.9 | state of the discourse on decentralization, sanctions, and crypto. |
| 1:49.9 | The first thing is the Treasury Department's issue of the 2022 national risk assessments for |
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