I'd rather have the government enforce something like user-friendly free globally available instant payment and settlement system. Then none of these shady services would be required.
Fox example, a version of SWIFT, but instant, free and distributed.
The US government will never endorse it or allow major banks to give their full support through because they want control over the network to "keep the bad guys out".
> The US government will never endorse it or allow major banks to give their full support through because they want control over the network to "keep the bad guys out".
If I can't use it for bank to bank transfers or paying for things in a supermarket or another person, that means it is not available today.
You can transfer USDC to anywhere you need to spend it. I use it all the time for transferring between my Australian and USA bank accounts.
You said you were looking for a SWIFT replacement, this is it.
Just have the money in escrow for 30 days or whatever if fraud is a concern.
It is all about messing with us and showing who is in charge.
Which is orders of magnitude more complex than running a SWIFT transfer, which is the entire goal of the sanctions: make it as hard as possible for the sanctioned country to do anything. Everyone knows and we've seen it over the last years that it is possible to evade any sanction - hell, even over many decades like Cuba - but it is a serious incentive for any government to do as told.
> Meanwhile I can't send money without the bank asking me 'what ya gonna do with "your" money little friend?'
Most of that bullshit comes from the "war on drugs" and "war on sex work" which are completely different beasts than international sanctions, and I think we can agree on both of these being ripe for the scrap heap.
Plus, gold is redeemeable just about anywhere and easy/fast to exchange without need to identify yourself.
You are right for reduced complexity when transferring small amounts, the situation completely inverses once you transfer +6 digits. Gold is fairly portable and simple by comparison to carry across a borders.