Post
Topic
Board Bitcoin Discussion
Re: Cryptocurrency will not save Russia from sanctions
by
Dunamisx
on 01/04/2022, 18:54:43 UTC
Considering the numerous restrictions on the Russian Government they are still strict measures on every transaction that is displayed on the Blockchain. Any huge amount of money moved into a wallet will be flagged and checked if it's headed to the Russian Government. And it'll be difficult for Russian Government to convert a huge Bitcoin into Fiat as well. Do you think they can get around the corner and still escape the numerous financial restriction on their country through Bitcoin or altcoin

https://www.aljazeera.com/economy/2022/3/1/crypto-will-not-save-russia-from

Of course they can, the only entry route they can have to place sanction on Russians account is on those making use of a centralized exchanges but it is not possible in a decentralized wallet, because governments have the CEX being regulated and they can at anytime demand for an access to users data.