Pariah states and criminal gangs are often early adopters of disruptive technologies. With blockchain, the possibilities for circumventing controls and systems--or creating new ways of business--are rich grounds for such early adopters. What has gone widely ignored in the buzz around cryptocurrencies is the role that states play and their changing perspectives on the matter. This article analyzes the geo-strategic implications of a suite of technologies that has the possibility of altering core economic tenets about money and, along the way, attracting the attention of those who would skirt the law.