Cryptocurrency as a New Tool to Avoid Sanctions: Is Crypto the Leading Indicator for Stock Market?
The Move of Cryptocurrencies
Cryptocurrency Is a Potential New Tool for Billionaires to Avoid Sanctions
Cryptocurrencies may help Russia and its billionaires blunt the impact of western sanctions. Individuals and other entities targeted in the wake of Russia’s invasion of Ukraine may circumvent penalties if they choose to use crypto.
U.S. President Joe Biden said Thursday he has authorized “strong sanctions” in response to Russia’s invasion of Ukraine. These aim to limit its ability to do business in dollars and other major international currencies, and include penalties on five Russian banks that represent an estimated $1 trillion in assets. A broad swath of Russian elites and their family members will also be targeted. That’s all in addition to penalties that were imposed earlier this week.
But those sanctions might carry less weight in a country that is taking steps to legalize cryptocurrencies and where the digital assets are already widely owned. Typically, nations employ physical workarounds to avoid sanctions, but digital assets like crypto and decentralized exchanges could become the most effective way to circumvent penalties.
Sanctions imposed on companies and individuals by the U.S. and its allies could essentially close them out of the West. Billionaires, some of whom have already been targeted directly, potentially stand to circumvent those penalties if they choose to use crypto, which uses blockchain technology to keep transactions anonymous. The digital currencies might help them buy goods and services and invest in assets outside of Russia — all while avoiding banks or institutions that adhere to sanctions and could trace their transactions.
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随着俄罗斯军队进入核威慑戒备状态，乌克兰战争已经升级到新的恐怖水平。这只是意味着他们的核武库准备在需要时开火。
随着美国及其盟友的新制裁，俄罗斯金融系统陷入混乱。如果加密货币被用来绕过正常的货币交易来源，这并不奇怪。
然而，加密货币只是其中的一个指标，而不是领先指标。利率上升、战争与和谈的进展等宏观逆风将决定市场力量。
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