In 2024, countries under sanctions used cryptocurrency more often to get around rules. The US and its friends tried to stop this by targeting the money networks, not just individuals. This is important because cryptocurrency can be used for both good and bad things.
- Countries under sanctions received $15.8 billion in cryptocurrency.
- The US government targeted groups helping sanctioned countries use crypto.
- Many Russian cryptocurrency exchanges were shut down.
- Iranians used cryptocurrency to protect their money because of economic problems.
- A cryptocurrency mixer called Tornado Cash continued to operate despite being banned.
| Fact | Number |
|---|---|
| Cryptocurrency received by sanctioned countries | $15.8 billion |
| Percentage of illicit crypto transactions from sanctioned countries | 39% |
| Amount processed by Cryptex exchange | Over $5.88 billion |
| Amount processed by PM2BTC exchange | Over $1 billion |
