Today I asked the following question to the High Representative of the EU for Foreign Affairs:
According to recent reports (1) North Korean hackers targeted four different exchanges that trade bitcoin and other digital currencies in South Korea in July and August, allegedly as a way to overcome sanctions on international payments. Simultaneously, an advisor close to President Putin has said that cryptocurrencies like Bitcoin may help Russian banks avoid international sanctions (2), while Venezuela's President Maduro has announced that the country would create a "cryptocurrency" that would help Venezuela in "overcoming the financial blockade" (3
How does the HR/VP asses the treat of cryptocurrencies like bitcoin to the effectiveness of the international sanctions regime?
Which measures does the HR/VP envisage to mitigate the use of cryptocurrencies as a way to circumvent international sanctions?