Cryptocurrencies along with CBDCs are acting on the effect of the sanction all because of the increase in adoption. The use of cryptocurrencies to evade international sanctions by various international governmental organizations such as the United Nations (UN), International Monetary Fund (IMF) and the World Bank has been a concern of regulatory authorities since the creation of cryptocurrencies. The rapidly growing adoption of digital currencies over the past two years has made this discussion more important than ever, especially with the emergence of central bank digital currencies (CBDCs) such as the digital yuan.In an interview on Nov. 17, US Treasury Secretary Wally Adeimo said the central bank’s digital currency would not undermine the effectiveness of US sanctions. Adeyemo’s remarks follow comments from sanctioned Russian oligarch Oleg Deripaska, who urged the Russian government to use Bitcoin to evade US sanctions and even weaken the dominance of the US dollar. Deripaska said,
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