Deep Tide TechFlow News. On April 21, 2025, a report by Jayati Ghosh, an economics professor at the University of Manchester, in The Bangkok Post said that the Trump administration has been pushing hard for the deregulation of cryptocurrencies and has promoted dollar-pegged stablecoins through the GENIUS Act, while also refusing to develop central bank digital currency. However, this series of policies is having a self-destructive effect: in 2025, the volume of illegal cryptocurrency trading increased by more than 160% year over year. Countries such as Russia, Iran, and North Korea are using cryptocurrencies to massively evade U.S. economic sanctions. Among them, Iran has introduced cryptocurrencies into the Hormuz Strait toll collection system, with estimated daily revenue as high as $36 million; Russia, meanwhile, has used crypto exchanges to bypass asset freeze orders and provide funding for military procurement.