The sanction is one of theessential tools of the United States. The US imposes typically sanction on any country that it considers to bea threat. The US has a significant bargainingadvantage when it comes to imposing sanctions on its rivals. With the coming of the cryptocurrencies, thesituation has taken a turn, and opponents of the US are turning tocryptocurrencies to evade sanctions.

Iran and Russia are the majorrivals of the US. They have unitedopenly. If Turkey joins them, thesituation might become tense in the Middle East. If the newly formed alliance between therival countries will adopt Bitcoin, then things will progress from being bad toworse.

If there would be a bettercurrency than the USD, then countries like Africa and Asia will as well jointhe new alliance. To sustain its dominance, the attitude of these countries areessential for America.

However, an increasing concern isthat if the drug lords would begin to accept cryptocurrencies, then everythingcan become useless. The politicalbacking enjoyed by the US is due to the global adoption ofcryptocurrencies. This dominance is onereason behind how America was able to compel the governments in differentcountries like Columbia to crackdown to the various cartels in theregions. The end of the dominance wouldnot be a pleasant experience for ordinary people.

So, cryptocurrencies have evolvedinto a political threat for the United States. Other than this, the otherconcerning factors relating to cryptocurrencies are tax evasion, terrorfunding, and money laundering.

More trouble is brewing and wouldexplore if the Facebook currency will become a success. It is hoped that Librawill be used by billions of people from across the world. It is expected that Libra will replicateevery kind of problem which has been generated by Facebook. Eventually, the technological innovationwhich was thought to be a liberator of people from the hands of governments mightput control into handfuls of corporations.

The critical point about Libra isthat the transfer of money from one person to another will become as easy astransferring information. The white paper of Facebook states, "Should beas easy and cost-effective as—an even safer and secure than—sending a textmessage or sharing a photo."

Financial networks become yetanother information networks just like any other social network.