Geoff White

Unless it's somebody who doesn't care about dealing with sanctioned entities, in which case, you know, you're in a sort of slightly murky world.

Unless it's somebody who doesn't care about dealing with sanctioned entities, in which case, you know, you're in a sort of slightly murky world.

Yeah. Yes, Roman Storm is based in the U.S., but actually at the point where they sanctioned it, I don't think that had been confirmed. And look, with sanctioning, sanctioning is a really interesting power in that basically any time money transfers across the U.S., the U.S. can exert control in terms of sanctions. So it's extremely difficult to avoid if the U.S.

Yeah. Yes, Roman Storm is based in the U.S., but actually at the point where they sanctioned it, I don't think that had been confirmed. And look, with sanctioning, sanctioning is a really interesting power in that basically any time money transfers across the U.S., the U.S. can exert control in terms of sanctions. So it's extremely difficult to avoid if the U.S.

government wants to go after you on sanctions. You know, it's extremely difficult to avoid that. The U.S. government's argument is that there would be U.S. users using this service... money transactions would have gone across the U.S. territory. Also, as far as I'm aware, the sanctions dodging accusations that the U.S. puts at the foot of North Korea gives the U.S.

government wants to go after you on sanctions. You know, it's extremely difficult to avoid that. The U.S. government's argument is that there would be U.S. users using this service... money transactions would have gone across the U.S. territory. Also, as far as I'm aware, the sanctions dodging accusations that the U.S. puts at the foot of North Korea gives the U.S.

government huge scope to go after it around the world. Wherever North Korea tries to dodge sanctions, it seems the U.S. government can go with its sanctions legislation. It seems odd, but in a way, it doesn't surprise me at one jot that the U.S. has managed to try and do this.

government huge scope to go after it around the world. Wherever North Korea tries to dodge sanctions, it seems the U.S. government can go with its sanctions legislation. It seems odd, but in a way, it doesn't surprise me at one jot that the U.S. has managed to try and do this.

But this is why sanctions are such a useful weapon and why the U.S. is resorting to them more and more. We've had Bitcoin fog. There was a prosecution in that case recently, another crypto mixer. This is why the U.S. government is using them. We can't nick these people. We can't lock them up and put them in handcuffs most of the time. We can use financial, frankly, financial warfare

But this is why sanctions are such a useful weapon and why the U.S. is resorting to them more and more. We've had Bitcoin fog. There was a prosecution in that case recently, another crypto mixer. This is why the U.S. government is using them. We can't nick these people. We can't lock them up and put them in handcuffs most of the time. We can use financial, frankly, financial warfare

This is what we do now. Financial warfare? We can't police the code. We can't police the people. But it's all about money. So we are just going to use that sanctions power, which is a really big, broad power to use. As soon as I started seeing this and I started realizing what was going on, I said, oh, that makes perfect sense. You know, you've got so few weapons to bring to the battle.

This is what we do now. Financial warfare? We can't police the code. We can't police the people. But it's all about money. So we are just going to use that sanctions power, which is a really big, broad power to use. As soon as I started seeing this and I started realizing what was going on, I said, oh, that makes perfect sense. You know, you've got so few weapons to bring to the battle.

But you've got this weapon and it's really good and you can use it wherever.

But you've got this weapon and it's really good and you can use it wherever.

Very good question. And that comes down to how much liability the exchange has. So in the situation you described there, that's what, four hops? Yes. I think, given that cryptocurrency tracing is fairly well developed, I think the authorities would say, well, hang on, you should still have known it came from that.

Very good question. And that comes down to how much liability the exchange has. So in the situation you described there, that's what, four hops? Yes. I think, given that cryptocurrency tracing is fairly well developed, I think the authorities would say, well, hang on, you should still have known it came from that.

But if you're talking about 100 hops or 1,000 hops, maybe that's enough hops that the authorities say, well, yes, you had no way of knowing this back in the day.

But if you're talking about 100 hops or 1,000 hops, maybe that's enough hops that the authorities say, well, yes, you had no way of knowing this back in the day.

Now you're thinking like a money launderer, Jack. That's what I hoped we'd get in this conversation. You finally, that's what the book's about.

Now you're thinking like a money launderer, Jack. That's what I hoped we'd get in this conversation. You finally, that's what the book's about.