Venezuela<\/a> <\/strong>has already released its gold backed crypto Petro for usage.<\/p>\nOn the other hand, China Central Bank is working on developing its crypto but has a complete ban on Bitcoin trading, crypto exchanges, and initial coin offering. Russia, on the other hand, is yet to pass a crypto bill; however, plans are underway to get the law enacted. For Iran, it’s working on developing its swift alternative to evade its dependency on dominant currencies.<\/p>\n
All in all, if these countries succeed in developing the blockchain platform backed to assets such as oil and gold, circumnavigate the US sanctions will be quite easy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The emergence of cryptocurrencies was and still is posing a huge threat to the global financial system, but now according to the American Foundation for Defense of Democracies (FDD) report its backbone blockchain will do worse.<\/p>\n","protected":false},"author":5,"featured_media":15664,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,74,88],"tags":[4620,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15662"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=15662"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/15664"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=15662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=15662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=15662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}