BIDEN DOING WHAT??? (CRYPTO NEWS TODAY)
So i had this uh kind of thesis, of course, before the whole thing that uh happened with ukraine and uh the whole. You know, regulation thing has been thrown on the back burner. I had thought that theyre gon na come out and basically just form a plan at least thats. What i was gathering from the articles i was reading now. Weve got some more new information here regarding what biden may do as it relates to russia and crypto. So this is fascinating, were going to jump in here, ill break it down. Here we can go over this article together. As always. Let me know what youre thinking as were reading together down below in the comments section, always love hearing from you and hearing your takes and thoughts on this. So will the bind administration in interest in targeting russian crypto exchanges actually work. So, on friday, the bind administration announced that it would likely go after russian crypto exchanges in the wake of ukraines invasion as part of its latest efforts to impose additional sanctions against the nuclear power according to by an administration official imposing sanctions on russias crypto activities would Need to be done in a way that wouldnt harm the broader crypto market, which could also make imposing them difficult. However, they, if they go after specific russian exchanges, it could do that. So up until now, the u.s has resorted to punitive economic measures and efforts to hold russia accountable for its actions, including targeting the countrys financial sector, big corporations, government officials, members of the elite and the nord stream 2 natural gas pipeline.
However, after the united states and senate european and its european allies reached a consensus, cutting off certain russian banks from swift was the next move. Now the us has gone after crypto and geopolitical affairs before imposing crypto sanctions, however, is not very straightforward and not easy. Since digital currencies are by nature, borderless private and beyond the reach of most governments, now the administration has previously gone after russian exchanges before in the past. In september 2021, the bond administration blacklisted russian owned cryptocurrency exchanges su x, o t c for allegedly helping launder ransomware payments in the following month. In october, the u.s treasury department also also sanctioned chad x, another russian owned cryptocurrency exchange that facilitated transactions for multiple ransomware variants and provided a link to back the suex otc for its ransomware activities. Now the biden, the obama administrations crackdown on ransomware follows a chain uh channelless chainalysis chanalysis analysis, a report that estimated over 131 million in payments sent to ransomware linked addresses between the dates of july 2022 and june 2021. More than double what western europe was has experienced. As the second hardest hit region, interesting, so could russias affluent still avoid these sanctions well with the biad administrations latest interest in taking on cryptocurrency firms that transact with blacklisted russian banks, such as vtb and uh spare bank theres an argument to be made that russia and Its affluent citizens could potentially circumvent any u.s sanctions by holding on to their wealth in bitcoin, as well as making investments to other countries and parties.
They want to continue transacting with them. Interesting, so do you think russians now are buying bitcoin more. Could that be a factor and why bitcoins price surged after biden came out and said theyre going to slowly kind of stop trading with them in in multiple capacities, imports and exports? Do you think russian citizens turned their attention to bitcoin a little bit more? Given that biden hinted at uh having russia, you know rely not not being able to rely on the us dollar as much its an interesting idea. I think its definitely worth kind of unpacking would love to get your thoughts on this down below. In the comment section really interesting article now ukraine, on the other hand, ranked fourth for global crypto adoption behind vietnam, india and pakistan has a tech pool of 200 000 workers. The countrys regulated many cryptocurrencies last year, including bitcoin. The co founder of ukrainian is near protocol. An ethereum competitor noticed that tether had grown in popularity due to its status as a reserve currency in ukraine, so both of these countries, ukraine and russia, are obviously uh. You know going through a war right now, but they are very, very important when it comes to the crypto markets as well. Of course, thats. Always in the background, when were talking about lives being lost and uh prayers go out to every single person whos been affected by the war that is going on in ukraine. So will dubai administrations interest in targeting russian crypto exchanges actually work now its time for you to uh weigh in on this down below in the comment section in terms of where we are in the crypto market today, pretty flat bitcoin still hanging above ‘, 000 ethereum Uh closing in on 2800.
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