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Cryptocurrencies as Instruments of State Economic Policy: Challenges and Opportunities

Polish Institute of International Affairs (PISM), Bulletin | 17/02/2019

Virtual currencies (“cryptocurrencies”) rely on decentralised payment systems independent of the control of state institutions. However, some countries are interested in creating their own cryptocurrencies, citing low costs and speed of transactions. National digital currencies could stabilise a financial system that uses private cryptocurrency. Their use, however, may challenge, for example, the effectiveness of economic sanctions or combating terrorism financing.

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