> In Guillou's daily life, this means that he is excluded from digital life and much of what is considered standard today, he told the French newspaper Le Monde. All his accounts with US companies such as Amazon, Airbnb, or PayPal were immediately closed by the providers. Online bookings, such as through Expedia, are immediately canceled, even if they concern hotels in France. Participation in e-commerce is also practically no longer possible for him, as US companies always play a role in one way or another, and they are strictly forbidden to enter into any trade relationship with sanctioned individuals.
> He also describes the impact on participating in banking as drastic. Payment systems are blocked for him, as US companies like American Express, Visa, and Mastercard have a virtual monopoly in Europe. He also describes the rest of banking as severely restricted. For example, accounts with non-US banks have also been partially closed. Transactions in US dollars or via dollar conversions are forbidden to him.
I view this as a failure of the cryptocurrency industry to build products that allow people to effectively transact with ordinary businesses in violation of US law, and without using payment processors ultimately subject to US law. Because of course US law includes this detail about being able to sanction people, and people who are sanctioned by US law because they have become an enemy of someone in the US government ought to be able to make monetary transactions in ordinary life too.
I don't have a great solution for Amazon unfortunately, they really do just sell a lot of stuff and they're one gigantic corporation and they're based in the US and subject to US law. Buy from AliBaba I guess? Or for that matter French hotels using Expedia even when doing business in French with other French citizens.
To be clear, I don't think it is good that the US Treasury Department sanctioned this judge. But the US has sanctioned lots of foreigners for their local political decisions as well as many other things, and I don't necessarily trust that all of those people necessarily did anything wrong, or deserve to be cut off from payment rails across the US aligned world.
> He also describes the impact on participating in banking as drastic. Payment systems are blocked for him, as US companies like American Express, Visa, and Mastercard have a virtual monopoly in Europe. He also describes the rest of banking as severely restricted. For example, accounts with non-US banks have also been partially closed. Transactions in US dollars or via dollar conversions are forbidden to him.
I view this as a failure of the cryptocurrency industry to build products that allow people to effectively transact with ordinary businesses in violation of US law, and without using payment processors ultimately subject to US law. Because of course US law includes this detail about being able to sanction people, and people who are sanctioned by US law because they have become an enemy of someone in the US government ought to be able to make monetary transactions in ordinary life too.
I don't have a great solution for Amazon unfortunately, they really do just sell a lot of stuff and they're one gigantic corporation and they're based in the US and subject to US law. Buy from AliBaba I guess? Or for that matter French hotels using Expedia even when doing business in French with other French citizens.
To be clear, I don't think it is good that the US Treasury Department sanctioned this judge. But the US has sanctioned lots of foreigners for their local political decisions as well as many other things, and I don't necessarily trust that all of those people necessarily did anything wrong, or deserve to be cut off from payment rails across the US aligned world.