Cross-border payment methods, such as cryptocurrencies, allow individuals to transfer money internationally, often bypassing traditional banking systems. The Office of Foreign Assets Control (OFAC) sanctions countries for various political and security reasons, restricting financial transactions with these nations. Proponents argue that such a ban prevents financial support to regimes considered hostile or dangerous, ensuring compliance with international sanctions and national security policies. Opponents argue that it restricts humanitarian aid to families in need, infringes on personal freedoms, and that cryptocurrencies can provide a lifeline in crisis situations.
@ISIDEWITH8mos8MO
Yes
@B2JP85Q1wk1W
If someone is able to set up and manage their own fiscal relations in the country I think they should be allowed to manage their own transactions across borders too, although it should be up to the individual to protect themselves against scams and likewise as they should be able to identify and brief themselves on such attacks
No, because the OFAC is an American agency, if we wish to ban cross-border payment methods to specific countries we should decide which countries by ourselves
@9TQ5HHD5mos5MO
No, but these methods must be strictly regulated by the Australian Federal Government in order to prevent terrorism.
@B2K7KYT1wk1W
It is a complicated question. Cryptocurrency is unreliable, and should a ban on citizens using cross-border payment be implemented, the government should be expected to provide humanitarian aid in its place
@B2GBNLQ2wks2W
Yes but only because crypto sucks Not care if you send money to North Korea and you should send money to Palestine. Weird you put Palestine and North Korea in the same boat
@B2DNDWQ3wks3W
No, but funds must be monitored, controlled and regulated to prevent financial support to hostile regimes, to ensure compliance with international sanctions and national security policies
@B27XB5T 1mo1MO
I think government money/ Centrelink should be banned from doing so. But whatever income is generated from earnings doesn’t really matter. Maybe the government should introduce a cap to sending income overseas.
no but they should ensure the money makes its way to the intended receptor, and not the government of that country
No, however the governement should ensure that the money donated to families actually reach them and is not taken for thier own benefit.
@9W7FMBV4mos4MO
No but systems should be put in place to make sure the money does go to the person and not the government or anyone that OFAC doesn't approve of.
@9VTCP684mos4MO
Yes but beware that anyone who is trying to send money to baddies for bad purposes are always going to find a way to do it
@9TQPHWX5mos5MO
The repairs should citizens across there borders payment as required as said government feedback admins
@9TH5PZ25mos5MO
No, if it's used for humanitarian purposes but it should be monitored for illegal/terrorist activities.
@9RZM3V96mos6MO
No, but there must be strict regulation to prevent money financing foreign terror regimes.
@9RYVGW66mos6MO
No, because the OFAC is an American agency, if we wish to ban the use of cross-border payment methods to specific countries we should decide ourselves
@9RXTSTN6mos6MO
only if the money goes to people effected by war, famine, and homelessness
@9RWJMDC6mos6MO
No because the OFAC is an American agency, if we wish to ban cross border payments to certain countries we should decide ourselves
@9RSXS5H6mos6MO
No. But all financial actions by companies or rich individuals should be monitored by a government agency
@9RKZCVB6mos6MO
No, but there should be strict regulation in place in order to prevent such money funding terrorism.
@9QSS6M47mos7MO
People should need to apply to use this form of money exchange. Or report the use of it?
@9QS3S9L7mos7MO
No, but create an unbiased board that inspects and regulates such transfers in order to make sure the money gets where it needs to be.
@9Q8N33V7mos7MO
Yes, but to any overseas countries, not just specifically sanctioned ones
@9PDPBQY8mos8MO
No, but there should be increased oversight as to where the money will end up.
No, but with strict regulation as to where the money will end up.
Against the current governmental systems and policies of that country, yes. Against everyday citizens who need humanitarian aid and support, no.
If you are supporting family in a poverty stricken country and can prove that the money is to buy food and essential products then I think it it fine.
@9VC9M684mos4MO
It depends on what context or reasoning behind why they are sending money through a bank other then their home bank.
No, because the OFAC and is an American agency, if we want to ban cross border payment methods to particular countries we should decide ourselves
@9SMKKPV5mos5MO
The government should make sure the money being sent to OFAC sanctioned country are being sent to support families and people, not war or violent ventures.
@9S2XYG56mos6MO
No, because the OFAC is an American agency, if we want to ban cross-border payment methods to particular countries we should decide by ourselves
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