I am fairly sure that there is no formal way to send money from United States to Iran or North Korea by an individual or even a business without special government authorization.
Happy to be proven wrong if there ways to send/receive money to countries via banks today.
When we say North Korean or Iran we generally don’t mean people with those ethnic background[1] or even citizenship who have legal, physical and banking presence outside[2] these countries. We typically mean legal entities (both individuals and businesses) who are present within these regimes
Are they sanctions perfect ? Of course not, but they are still far better than what crypto exchanges do today
[1] that would be racist that is not the purpose of those sanctions
[2] the governments of these other geographies persumably have controls and oversight into these people
Happy to be proven wrong if there ways to send/receive money to countries via banks today.
When we say North Korean or Iran we generally don’t mean people with those ethnic background[1] or even citizenship who have legal, physical and banking presence outside[2] these countries. We typically mean legal entities (both individuals and businesses) who are present within these regimes
Are they sanctions perfect ? Of course not, but they are still far better than what crypto exchanges do today
[1] that would be racist that is not the purpose of those sanctions
[2] the governments of these other geographies persumably have controls and oversight into these people