Quote from: jaberwock on April 29, 2022, 07:23:31 AM

Quote from: Abiky on April 28, 2022, 05:30:19 PM

Russia embracing crypto just to avoid economic sanctions, will give a bad picture of the whole industry. This will force countries to take drastic measures against crypto/Blockchain tech in order to minimize its growth worldwide. I'd prefer Russia to steer clear from crypto in order to prevent other countries from declaring it "illegal" for mainstream use. Of course, crypto will still survive because of its decentralized and censorship-resistant design. But it wouldn't be as widely used as before since people will be afraid of getting into it in order to avoid being prosecuted by the government. No one knows what's in Putin's mind right now so we can only hope for the best. Just my thoughts Grin

I do not think that is true, countries are not going to decide to ban cryptocurrency just for the fact that Russia is making use of it. Moreover we are not even sure of all these things that people are saying, although we do know for sure that they declared it legal in their country and that cryptocurrency mining is also allowed.

But, what I would want to say is that no country would be banning cryptocurrency just for this, countries who would ban cryptocurrency will do that with or without Russia making use of it. And countries that want to accept it will also do the same. Do not forget that during the war between Ukraine and Russia, cryptocurrency was put to a good use and a lot of people were able to use it to donate in support of Ukraine.

Yes that's correct. it is not correct to say that crypto also imposed sanctions on Russia for invading Ukraine. Although I have also heard rumors that crypto will freeze all wallets of crypto holders from Russia, I don't think this will happen. Crypto is not regulated by any country. And there is no solid evidence that Crypto was also involved in sanctioning Russia. actually there are many benefits of crypto during the war, I have always believed that crypto is a platform to keep money safe from various government politics in the country ranging from inflation to even being useful in distributing donations to war victims as it is today.