What is the impact of the current Ukraine and Russia war on Crypto? With so many sanctions being launched against Russia, it could have a huge impact on the economies of both countries and possibly other countries as well. I have read before that there are Ukraine who accept donations via crypto and there is news of a ban on freezing Russia user accounts. I hope the war ends soon, peace is beautiful
There are several things that both Russia and Ukraine can do, if sanctions are imposed by NATO and its allies, including the impact on crypto.
First, Russians and Ukrainians buy crypto as savings.
Second, the people of Russia and Ukraine buy gold for savings.
The first thing Crypto will do will have a positive impact on skyrocketing prices.
The second thing to do Crypto is down further, excuse, selling crypto buying gold.
It seems to me that this war may not affect all economies in the best way. I won't say anything about the Russian stock market - it's dead. But if there are conflicts with NATO, the American market will be in for a storm. And if the US stock market collapses, bitcoin will go down, too. Right now, cryptocurrency is not a savings vehicle, but a handy tool. For example, Russia has imposed restrictions on the export of currency from the country. You can buy crypto and take it out even just on your smartphone, and no one will notice. By the way, I think this war started for a reason. The big guys are now sharing a big piece of the pie.