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Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies by kragen on Monday July 26, 2021 @03:41PM (#27964385)
Yeah, when the pipeline ransomware thing happened, I figured that we'd see some big crackdowns on internet freedom as a result. And he mentions the pipeline early on in the article.

CFR folks like Bob might be equally interested in stopping cryptocurrency as a way for countries subject to US sanctions, like Iran and Venezuela, to have access to the international payment system. But that's probably not as appealing a pitch for the UN Security Council, the G7, and the G20, who I think are his real audience here. He knows a unilateral move against cryptocurrency by USG would be not only very difficult because of domestic opposition but also a bit of an own goal, cutting the US off from the developing permissionless international economy.

But if he can convince other governments' advisors that Bitcoin poses a threat to them that outweighs any potential protection it grants them from the US, then those concerns go away. PRC is already on board; Russia and India could maybe be persuaded, having flirted with total cryptocurrency bans and then backed away from them; Brazil, Japan, Korea, Taiwan, the EU and Commonwealth countries are likely to be more difficult. No idea about Mexico, the Saudis, Turkey, and Indonesia—they've all been rather nervous about it, except in Mexico where it's fully legal.

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