Yaya J. Fanusie is a former CIA analyst and is the Director of Policy for AML & Cyber Risk at the Crypto Council for Innovation. He also is an adjunct senior fellow at the Center for a New American Security.
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The announcement of the mBridge pilot project should serve as a wake-up call to U.S. policymakers seeking to preserve U.S. influence in the global financial system.
China’s vision of the next iteration of the internet is one in which China controls and vets who can build on it.
China’s fintech activity is evolving swiftly and the U.S. government needs to thwart this long-term threat by ensuring that the companies exploring new technical capabilities in the financial sector have an alternative to Chinese innovation.
A steady rush into retail crypto activity is occurring without a check of the regulatory blindspots. Many illicit actors will likely try to spend their ill-gotten crypto on goods and services online rather than cashing out into regular currency.
If or when a central bank digital currency is deployed in a major economy such as the United States, there will be unintended consequences.
The U.S. and China are in a race for blockchain dominance.
Cryptocurrency obfuscation tools and techniques are likely to play a growing role in financing threats to U.S. national security.