News Dominant Crypto Platforms Reluctant to Ban Russian Users

[digitalgriffin]

As far as crypto evading any attempts at government controls, most techniques that can be used to evade geo-blocking, IP bans, traffic filtering, etc. for web traffic can be used for crypto too and if you live in a country where having to use proxies, VPNs and other mechanisms to bypass government censorship for online services, you are already setup to use the same for crypto.

Yes and no. If you are a small time person, like you and me, blocking crypto at the national level is easy. It just means blocking all clearing houses from working with banks. If you can't exchange it for US funds, they money is almost worthless. And if you start receiving a lot of money from outside the country banks, the IRS is now going to look at you. So even if you do hide your IP and use a VPN/Relay, getting the funds into something fungible and useful is a lot more difficult.

I will admit world nations and Oligarchs trying to avoid the system, yes it's a lot easier for them to bypass. How hard is it for a Billionaire to setup accounts in Switzerland or Japan, or Sweden? Answer: It isn't. But they are still hobbled if they are at home in Russia. The Russian central bank has stopped all foreign money transactions because there just isn't enough of it due to everyone trying to cash out to a stable currency. It goes both ways. Russia won't accept foreign currency either (from what I read....That might be a mistake however by the reporter in question. Receiving foreign currency benefits the bank.)

I also see that those mega yachts owned by the Russian Oligarchs are running for the hills and trying to hide. They are turning off their location beacons and even firing European crews.

 

[InvalidError]

Yes and no. If you are a small time person, like you and me, blocking crypto at the national level is easy. It just means blocking all clearing houses from working with banks.

Unless you manage to convince ALL governments worldwide to outright ban crypto, crypto will still have value somewhere and people who own crypto will still use crypto for peer-to-peer transactions where they still can. Same thing as physical cash.

 

[-Fran-]

https://gizmodo.com/bitcoin-atms-declared-illegal-in-uk-by-financial-regula-1848639960

🙄

Regards.

 

[InvalidError]

https://gizmodo.com/bitcoin-atms-declared-illegal-in-uk-by-financial-regula-1848639960

🙄

Regards.

That is only one way to move crypto, 1000 more to go. All you need to make crypto transactions is an appropriate crypto wallet manager. Anything else is companies trying to make a buck on convenience.