+ 9:00 am - 11:00 am Washington, D.C.
+ 2:00 pm - 4:00 pm London
+ 3:00 pm - 5:00 pm Brussels

We were pleased to host Cryptocurrency’s Use in Geopolitical and Economic Crises on April 22, which was a hybrid event taking place in Washington, D.C. and online.

Russia’s invasion of Ukraine, and the resultant sanctions on certain Russian banks’ participation in SWIFT, throws digital assets and questions about their potential for use in sanctions evasion into sharp relief. Simultaneously, digital assets have been used to facilitate the flow of very necessary funds to both Ukrainian and Russian citizens and refugees who have suffered violence and economic collapse. Hundreds of thousands of crypto donations totaling over $100 million poured into Ukraine in the first two weeks of the invasion. Swiftly, the Ukraine government passed a law creating a legal framework for the cryptocurrency industry, further facilitating crypto donations both to citizens and to fund the nation’s defense. These events follow on the heels of the U.S. withdrawal from Afghanistan and subsequent rapid deterioration of the Afghan economy, prompting an increase in the demand for cryptocurrency to meet basic needs while banks are
limited in their ability to supply cash. For the first time, we see governments able to solicit funds in mass from independent people around the world who want to aid them, while we simultaneously see urgent concerns highlighting the need to close gaps where cryptocurrency may be used to circumvent sanctions. In a coming-of-age moment for the crypto industry, how can the industry ensure it is on the right side of history? How will this change the future of national security, globally?

Please reach out to meetings@iif.com with any questions.