What happens when a cryptocurrency exchange faces sanctions?

<p>Clinton Donnelly of CryptoTaxAudit discusses the BitBank sanctions story, access to the U.S. dollar system, and the risks associated with holding crypto on an exchange.</p><p>The discussion covers correspondent banking, potential effects on customer deposits and withdrawals, and the distinction between exchange solvency risk and sanctions exposure. Clinton also references FTX before turning to the wider role of the U.S. dollar in international payments.</p><p>He also shares his views on BRICS, alternatives to the U.S. dollar, and Bitcoin’s possible role in international trade. These potential future developments are discussed as analysis rather than established outcomes.</p><p><strong>Book a private crypto tax consultation:</strong><br><a href="https://www.cryptotaxaudit.com/crypto-tax-consultation?utm_source=chatgpt.com" target="_new" rel="noopener">https://www.cryptotaxaudit.com/crypto-tax-consultation</a></p><p><strong>U.S. Treasury source:</strong><br><a href="https://home.treasury.gov/news/press-releases/sb0632?utm_source=chatgpt.com" target="_new" rel="noopener">https://home.treasury.gov/news/press-releases/sb0632</a></p><p><strong>Visit CryptoTaxAudit:</strong><br><a href="https://www.cryptotaxaudit.com/?utm_source=chatgpt.com" target="_new" rel="noopener">https://www.cryptotaxaudit.com/</a></p><p><strong>Disclaimer:</strong> This episode is for educational and informational purposes only and does not constitute legal, tax, or financial advice.</p><p><br></p>