Quote from: ven7net on April 23, 2022, 04:37:33 PM

Quote from: _act_ on March 08, 2022, 07:36:05 AM

The Russia's central bank wanted cryptocurrencies to be banned in its country but the Russian president, Vladimir Putin said bitcoin mining and other crypto mining will be beneficial for Russia. Some people at that time have been supectimg this could be a move by the Russia's president that he is planning to invade Ukraine which will result to sanctions, thinking cryptocurrencies would be a means to evade sanctions and make it economically less effective.

Ukrainian Vice Prime Minister Mykhailo Fedorov demand crypto exchanges to freeze all Russian accounts so that the sanction can be effective, but most exchanges did not support this. I read few days ago that cryptocurrencies may not help in Russia sanction but FinCEN concluded that Russia can attempt to use cryptocurrencies to evade sanctions.

FinCEN Provides Financial Institutions with Red Flags on Potential Russian Sanctions Evasion Attempts

What is your take? What role can cryptocurrencies play in helping Russia sanctions evasion and to what extent can this be?

Why do I always see the same information that everything is bad in Russia, sanctions will destroy it and stuff like that? Doesn't anyone think that everything can be completely different from what it seems at first glance? Well, probably not, because propaganda is such a thing, however, as far as cryptocurrencies are concerned, why not? What will prevent Russia and, by the way, other countries that are under sanctions from using cryptocurrencies for their own convenience? Well, except that all cryptocurrencies were created by the West, for example, the United States, which means that everything they tell us about the reliability of cryptocurrencies is complete nonsense. But if, nevertheless, this is not the case and cryptocurrencies were indeed created in order to have an alternative for settlements at such moments, then it turns out that cryptocurrencies help Russia to have an income and make the payments it needs. Based on this, it turns out that cryptocurrencies will be able to help Russia survive in this difficult time.

Tell me, no offense only, you don’t understand how sanctions work and what is their task?
Let me ask one more question - why, for example, Russia will not be saved from sanctions by cowrie shells, or the fruits of a fig tree? Well, the countries that are under sanctions, agree tomorrow and decide that among them, now the most important currency will be the cowrie shell, and that's all, the sanctions are bypassed? So ? Silly, I agree.
And now the question is - please describe the chain of steps to circumvent sanctions, using cryptocurrency, for example ... well, let there be a package of sanctions prohibiting the supply to Russia from the USA, Canada, Britain and Australia of industrial equipment for drilling geological exploration of wells, as well as equipment for oil production? And once you start thinking about the chain, you will realize that cowrie shells are not a bad option