Cryptocurrency Is Unable to Fuel Russia’s War Machines
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> **Coinbase, DMarket, …**
I do not think Russians are particularly interested in using western crypto-platforms. I do not even use them.
> **crypto exchanges and crypto service providers are subject to the supervision of the jurisdictions they belong to … they cannot ignore the scrutiny of financial authorities and the duty to cooperate with sanctions**
A crypto exchange does not need to declare jurisdiction. Most of the following ones simply do not:
Furthermore, these crypto exchanges do not collect customer information. Therefore, they cannot cooperate with sanctions.
Attacking these exchanges could backfire, because if Putin’s government happens to use them, he could consider that to be an act of war.
> **Sanctions is a reliable deterrent**
Wrong. It is Putin’s 10,000+ nuclear warheads that are a reliable deterrent. He has already clarified that going too far, will cause him to use them.
> **On the other hand, Bitcoin’s honeymoon phase with mainstream institutions and financial regulation will come to an end once Russian funds show a tendency to evade sanctions through crypto assets.**
Bitcoin’s goal is not to have some kind of “honeymoon” with payment intermediaries. Bitcoin’s goal is to replace them, and to make them obsolete in every way.
Furthermore, the arrogance clearly needs to be reined in. It is that particular understanding that will make Putin increasingly popular across the globe.
Cryptocurrency
