{"id":274947,"date":"2020-10-08T10:59:43","date_gmt":"2020-10-08T14:59:43","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=274947"},"modified":"2021-08-14T16:20:40","modified_gmt":"2021-08-14T20:20:40","slug":"u-s-navy-admiral-criticizes-south-americas-pro-crypto-agenda","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/u-s-navy-admiral-criticizes-south-americas-pro-crypto-agenda","title":{"rendered":"U.S Navy Admiral Criticizes South America’s Pro-Crypto Agenda"},"content":{"rendered":"

Many countries going through challenging times have come to lean on cryptocurrencies for economic support. While experts continue to use this as a testament to cryptocurrencies’ potential, some authorities have decried this operation as being in their way.<\/span><\/p>\n

Money Laundering and Criminal Activity\u00a0<\/b><\/h2>\n

Earlier this week, Navy Admiral Craig Faller, the head of the United States Southern Command, explained that the use of cryptocurrencies by several South American economies has made it challenging to spread democracy to their borders.\u00a0<\/span><\/p>\n

The Southern Command is one of the unified combatant commands that make up the Department of Defense. Based in Doral, Florida, the Command provides planning, cooperation, and contingency in operations carried out in South America.<\/span><\/p>\n

Speaking in an <\/span>interview<\/span><\/a> with the Council of the Americas, Admiral Faller explained that the Southern Command had become wary of Southern American countries rapidly adopting cryptocurrencies. He pointed out that most of these countries tend to be breeding grounds for international criminal organizations, which traffic illegal substances and launder money through their borders.\u00a0<\/span><\/p>\n