Financial and Monetary Systems

Sanctioning a cryptocurrency protocol: What does that mean for Web3?

It is the first time the OFAC sanctions have been applied on a software protocol, rather than an individual or legal entity.

It is the first time the OFAC sanctions have been applied on a software protocol, rather than an individual or legal entity. Image: Kanchanara/Unsplash

Arushi Goel
Specialist, Data Policy and Blockchain, World Economic Forum, C4IR India
Geoffrey See
Chief Executive Officer and Co-Founder, Poko
Viraj Ananth
Legal & Policy Lead, Poko
Share:
Our Impact
The Big Picture
Explore and monitor how Financial and Monetary Systems is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
Stay up to date:

Financial and Monetary Systems

Listen to the article

Have you read?

OFAC sanctions announcement highlights the need for the Web3 ecosystem to collectively focus on developing solutions that are preventive and curative.
OFAC sanctions announcement highlights the need for the Web3 ecosystem to collectively focus on developing solutions that are preventive and curative. Image: Chainanalysis

Discover

How is the World Economic Forum fostering a sustainable and inclusive digital economy?

Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Related topics:
Financial and Monetary SystemsThe Digital Economy
Share:
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

US and German GDP show consumers are central to recovery, and other economy stories you need to read this week

Gabi Thesing

May 26, 2023

About Us

Events

Media

Partners & Members

  • Join Us

Language Editions

Privacy Policy & Terms of Service

© 2023 World Economic Forum