Cryptocurrencies and National Security



Ankit Panda, Council on Foreign Relations
In 2009, an anonymous software engineer using the pseudonym Satoshi Nakamoto created Bitcoin, the first cryptocurrency. In the years since, the market for Bitcoin and some 1,300 other cryptocurrencies has swollen to $500 billion; they are used in hundreds of thousands of transactions daily to buy everything from software to real estate to illegal drugs.

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