Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Freemind on March 03, 2022, 06:20:06 PM
-
As I have read in several articles, the United States government is thinking about another possible sanction for Russia, preventing it from moving funds in Bitcoin and Ethereum. This would be a serious blow to the country, which is also in the process of accepting cryptocurrencies, but according to the US government, this new sanction would prevent the Russian government from continuing to finance the war. There are no details yet on how these sanctions could be carried out, since as we know, there are many ways to avoid many restrictions.
This is one of the articles: https://www.cnbc.com/2022/03/02/bitcoin-sanctions-could-be-next-as-doj-unveils-crypto-crackdown-plans.html
Do you think these sanctions could have any effect or do you think they won't really help at all?.
-
war sanction will effect to crypto, but I think it wil not have big effect.
We should distinguish, crypto market being effected by sanction or bearish season.
Because we all know , it's bearish season.
-
How will this happen when bitcoin is completely decentralized. It is possible to circumvent sanctions restrictions by using a VPN. This applies to all sites that can be bypassed this way.
-
If implemented, it would be indirectly Bitcoin promotion during war. The world will know how Bitcoin and Ethereum could finance one country. Everything will be back to normal and will restart the crypto dominion.
Anyway, most Russian don't care.
-
It is very difficult to impose any restrictions on its movement on a decentralized cryptocurrency. The article to which there is a link does not disclose how such restrictions or prohibitions will be introduced and what exactly the United States is going to do specifically for this. Perhaps they will oblige exchanges and exchangers to perform certain actions in relation to cryptocurrency funds belonging to Russian citizens.
In the current situation, when their sons, husbands and fathers, with whom Russian citizens, as a rule, have mobile communications, deliberately continue to launch rocket and bomb attacks on residential areas, schools, hospitals in Ukraine, kill Ukrainian women and children, all Russian citizens are guilty of allowing this to happen. They have to pay for everything. Even for the fact that they do not have the courage now to massively protest against the war with Ukraine.
Therefore, while Ukrainians are dying at the hands of Russian invaders, any financial and economic sanctions against absolutely all categories of Russian citizens are justified.
-
If implemented, it would be indirectly Bitcoin promotion during war. The world will know how Bitcoin and Ethereum could finance one country. Everything will be back to normal and will restart the crypto dominion.
Anyway, most Russian don't care.
That's what I find most strange about this whole situation. How are they going to implement it or try to implement it, because it is not easy at all. We know that exchanges can block any IP range they want, or even entire ISPs, but we also know that those restrictions can be easily circumvented with little to no knowledge. In any case, you are right, it could serve to make cryptocurrencies more known, and that's always good.
-
As I have read in several articles, the United States government is thinking about another possible sanction for Russia, preventing it from moving funds in Bitcoin and Ethereum.
My question is how USA government prevents BTC and ETH move from any wallets? And how do they limit Russians from accessing their wallets? I think this sanction is impossible to apply, USA government has no ability to prevent Russians from moving their BTC or ETH. Even it is possible, Russians can change their BTC or ETH to others coins and withdraw them from any exchanges. :D
-
As I have read in several articles, the United States government is thinking about another possible sanction for Russia, preventing it from moving funds in Bitcoin and Ethereum.
I am wondering how can they do that? If they are able to do that, it means that Bitcoin and Ethereum are something centralized, under the power of the US?
really?
I am not sure about this because BTC and ETH are exactly decentralized. Even Binance itself will not lock the assets of Russian's users because of this war
-
As I have read in several articles, the United States government is thinking about another possible sanction for Russia, preventing it from moving funds in Bitcoin and Ethereum.
I am wondering how can they do that? If they are able to do that, it means that Bitcoin and Ethereum are something centralized, under the power of the US?
really?
I am not sure about this because BTC and ETH are exactly decentralized. Even Binance itself will not lock the assets of Russian's users because of this war
Yes, everyone is interested in this question. But we already see that the American exchange Coinbase has already blocked 25,000 Russian user accounts. Now about a hundred states have already condemned Russian aggression against Ukraine and support international sanctions against the Russian Federation. Therefore, their authorities may well instruct cryptocurrency exchanges registered or located on their territory to block accounts belonging to Russian citizens.
But what else can states do in this regard, I am also interested.
-
Yea, everyone is interested in this question. But we already see that the American exchange Coinbase has already blocked 25,000 Russian user accounts. Now about a hundred states have already condemned Russian aggression against Ukraine and support international sanctions against the Russian Federation. Therefore, their authorities may well instruct cryptocurrency exchanges registered or located on their territory to block accounts belonging to Russian citizens.
But what else can states do in this regard, I am also interested.
I think Russian user didn't have fault, why coinbase blocked 25,000 Russian users.
I think It's not fair.
War always have bad effect, but citizens is remaining citizens.
This war between two countries, why citizens , especially crypto investors being victim.
It will have bad effect to crypto market.
-
I am wondering how can they do that? If they are able to do that, it means that Bitcoin and Ethereum are something centralized, under the power of the US?
really?
I am not sure about this because BTC and ETH are exactly decentralized. Even Binance itself will not lock the assets of Russian's users because of this war
No, it is not about Bitcoin and Ethereum being centralized. From what I understand it would be that US based exchanges would block incoming connections from Russia, something that doesn't make much sense knowing that this can be easily circumvented using VPNs and proxy tunnels. They can also be other types of sanctions, "disconnecting" Russia from submarine cables, but that would only affect the "normal" population, any user with a satellite Internet connection could continue using the Internet without any problem.
-
I think America has banned cryptocurrency circulating in their country, if it comes to banning bitcoin flows from Russia to the world, I don't understand them. At least, America gave the green light for cryptocurrencies in their country too. In addition, bitcoin and other coins are decentralized and cannot be regulated by anyone, can America regulate cryptocurrencies to ban Russia?
-
I think America has banned cryptocurrency circulating in their country, if it comes to banning bitcoin flows from Russia to the world, I don't understand them. At least, America gave the green light for cryptocurrencies in their country too. In addition, bitcoin and other coins are decentralized and cannot be regulated by anyone, can America regulate cryptocurrencies to ban Russia?
American could blocked users from Russia in coin base, as we now , I read 25,000 users.
I don't think Russia will quiet.
Russia is the biggest be country and I believe Russian will respond this.
Hopefully it will not big effect for crypto market.
-
TBH, I prefer see the peace than war.
Because war will always have bad effect to many elements.
I also think Russia and Ukraine war will effect to crypto currency market.
As we know America has blocked 25,000 coinbase users.
Market volume will decrease and the price will down.
It's not good for crypto world.
-
Why did Russia get so many sanctions for invading Ukraine, while Israel, which invaded Palestine for years, remained safe from sanctions?!
I think this is America's strategy to bring down Russia, because America is afraid that Russia will become a strong country that will be able to compete with America.
And if there really were Cryptocurrency Sanctions against Russia, this would be a really bad thing!.
-
I think America has banned cryptocurrency circulating in their country, if it comes to banning bitcoin flows from Russia to the world, I don't understand them. At least, America gave the green light for cryptocurrencies in their country too. In addition, bitcoin and other coins are decentralized and cannot be regulated by anyone, can America regulate cryptocurrencies to ban Russia?
No, the United States cannot regulate outside its country, and even less in Russia, its "eternal enemy". But what the United States can do is somehow "force" all exchanges based in the country to impose blocks and prevent Russian users from using services (deposits and withdrawals) of any kind. Actually it is another measure of pressure towards Russia to end all this madness, and I hope that sooner or later all sanctions (of any kind) start to work.
-
Do you think these sanctions could have any effect or do you think they won't really help at all?.
Talking about sanction and war, I think It will have effect to crupro currency too.
But crypto currency is anonymous and can't be controlled.
I think US just blocked users but didn't block crypto.
War is not good and will have bad effect to economic.
So, Crypto will suffering too.
At this time also bearish season, people didn't worry about this sanction.
-
Why did Russia get so many sanctions for invading Ukraine, while Israel, which invaded Palestine for years, remained safe from sanctions?! I think this is America's strategy to bring down Russia, because America is afraid that Russia will become a strong country that will be able to compete with America. And if there really were Cryptocurrency Sanctions against Russia, this would be a really bad thing!.
What I know is that the USA under Putin has no real plan whatsoever for or against Russia but has now became reactive type of a leader in the international scene. USA has become a weakling and that become the driving force why Putin decided that this can be the best time to get Ukraine back into its orbit just like in the past - the USSR empire. Now, the sanctions that can be made by USA on cryptocurrency relative to Russia will be focused on centralized exchanges and I think Coinbase for example is already doing it now and so will Binance soon but as to decentralized platforms the government can have a hard time stopping transactions from going through and this is really worth watching as to how creative the government can be in exercising this power.
-
Approximately how Crypto sanctions will be applied by one country to another, because we know Cryptocurrency is anonymous and decentralized.
It is very difficult to trace how we can find out it belongs to Russian people or not, Or they will block Crypto sites in Russian State?! Currently people who are involved in Crypto are smart, they will still be able to enter blocked Crypto sites in their own way.
-
Approximately how Crypto sanctions will be applied by one country to another, because we know Cryptocurrency is anonymous and decentralized.
It is very difficult to trace how we can find out it belongs to Russian people or not, Or they will block Crypto sites in Russian State?! Currently people who are involved in Crypto are smart, they will still be able to enter blocked Crypto sites in their own way.
Maybe from KYC mate, National ID, driver license or passport.
If the country is Russia will be blocked. example coinbase.
But It just ar several exchange that use KYC.
Don't worry , I think It will have little be effect to crypto market if by they just blocked by Russia users.
Maybe war will have long term effect, let's see.
-
Approximately how Crypto sanctions will be applied by one country to another, because we know Cryptocurrency is anonymous and decentralized.
It is very difficult to trace how we can find out it belongs to Russian people or not, Or they will block Crypto sites in Russian State?! Currently people who are involved in Crypto are smart, they will still be able to enter blocked Crypto sites in their own way.
No matter how many sanctions they may impose, it does not mean that all of them will work, or will work 100%. Exchanges and IPS can block incoming connections from Russia, but what they cannot block, for example, is any citizen of any country buying crypto and sending it to a Russian citizen. Not everything can be controlled on the internet, as there are many ways to avoid crypto related penalties, and the sanctioning countries know it perfectly.