rusia using a ponzi scheme to wash money, who’d have thought…
Cheap_Marzipan_262 on
Can’t wait for trump to realize his beloved crypto is the best way to get around his beloved sanctions.
visualframes on
Explains why Trump is so pro-crypto without having a clue about it.
ThatGuyOnReddit111 on
Long live Bitcoin. Freedom money.
TheSleepingPoet on
**PRÉCIS**
**Russia Turns to Bitcoin to Bypass Western Sanctions**
Russia has started using Bitcoin to circumvent Western sanctions, as Finance Minister Anton Siluanov confirmed. A new legal framework allows approved entities, including cryptocurrency miners, to use digital currencies for international trade.
This initiative addresses the Russian economy’s difficulties in conducting global transactions, especially with countries like China that do not depend on the U.S. dollar. Additionally, the policy benefits domestic energy companies, which can supply electricity to Bitcoin miners who require a significant amount of power.
However, accepting such payments abroad remains uncertain due to varying international laws and pressure from Western financial regulators. This development poses a complex challenge for global policymakers, particularly in light of U.S. efforts to maintain the dollar’s dominance.
chill-driven-spade on
Fuck russia
LitmusPitmus on
Yes use the immutable ledger to evade sanctions and then announce it!
As solid as their plan to take over Ukraine in 3 days
helpnxt on
Ok so they won’t mind the sanctions staying in place then.
rspndngtthlstbrnddsr on
>russia says
vocal-avocado on
And yet you pay no taxes on bitcoin gains if you hold them for more than a year in Germany. This makes crypto very attractive.
vergorli on
Isn’t that kinda stupid? BTC is insanely hard compared to rouble and Russia can’t print it. Meaning contracts and debt written in BTC have to be payed in actual worth.
And who in is right mind is selling BTC for rouble in nation scale amounts?
Backfischritter on
The least surprising news ever.
medievalvelocipede on
Russia has used bitcoin for ages, like all other criminal scum.
No-Objective7265 on
Ironically bitcoin is completely traceable now, likely easier than usd to track
HighPitchedHegemony on
I mean, of course. This is exactly what it was made for. Uncensorable. No middle man. Out of reach of any law enforcement. This is the logical consequence of all its properties. Did you think criminals, terrorists and sanctioned nation states wouldn’t use it? Did you think they wouldn’t use the tool you gave them?
AppropriateSea5746 on
Bitcoin is also how a lot of people including Russians covertly and safely donate to Ukrainian charities and the pro-Ukrainian war effort.
WrenchmanFerritin on
ITT: a bunch of people with strong opinions but with nothing to back those opinions
CuTe_M0nitor on
They still have to use the Ruble one way or another so if not then the Ruble will continue to decline. Hooray
Reymen4 on
I guess it is not working great for them? If it was they would not have mentioned it.
EfendiAdam-iki on
So from now on, when Bitcoin goes down, Putin tells what a great thing it is.
Mirrorshad3 on
Didn’t Trump just mention [having a strategic reserve of Bitcoin](https://www.forbes.com/sites/mauriciodibartolomeo/2024/11/07/trumps-top-3-bitcoin-promises-and-their-implications/) AND just get a pro-Bitcoin GOP person in the white house? I’m sure that Russia using it is just coincidental and any scheming/pump and dump/scamming of American taxpayer money by Trump and his russian friends will be a coincidental oopsy-doodle and somehow “the Democrats fault!!!!11!!!” because something something marxism communism eating the dogs eating the cats garbage island rapist and thieves(sounds of furious masturbating to white supremacy edgelord buzzwords)”
GunnerMuk on
Blackrock are going knee deep with crypto too.
Interesting how this will all play out…
Nailed_Claim7700 on
Probably tRump’s Bitcoin.
Material-Amount on
I sure hope this means western governments decide to make bitcoin illegal.
globalphilosopher3 on
Look at Dubai….wealthy Russians buy Bitcoin using rubles in Russia ….. then sell the Bitcoin in Dubai and pay 0 taxes and buy real estate….
28 commenti
Russia buys high and sells low.
Cripto is mostly for fraudulent activity
Best way to stop crypto de-regulation
rusia using a ponzi scheme to wash money, who’d have thought…
Can’t wait for trump to realize his beloved crypto is the best way to get around his beloved sanctions.
Explains why Trump is so pro-crypto without having a clue about it.
Long live Bitcoin. Freedom money.
**PRÉCIS**
**Russia Turns to Bitcoin to Bypass Western Sanctions**
Russia has started using Bitcoin to circumvent Western sanctions, as Finance Minister Anton Siluanov confirmed. A new legal framework allows approved entities, including cryptocurrency miners, to use digital currencies for international trade.
This initiative addresses the Russian economy’s difficulties in conducting global transactions, especially with countries like China that do not depend on the U.S. dollar. Additionally, the policy benefits domestic energy companies, which can supply electricity to Bitcoin miners who require a significant amount of power.
However, accepting such payments abroad remains uncertain due to varying international laws and pressure from Western financial regulators. This development poses a complex challenge for global policymakers, particularly in light of U.S. efforts to maintain the dollar’s dominance.
Fuck russia
Yes use the immutable ledger to evade sanctions and then announce it!
As solid as their plan to take over Ukraine in 3 days
Ok so they won’t mind the sanctions staying in place then.
>russia says
And yet you pay no taxes on bitcoin gains if you hold them for more than a year in Germany. This makes crypto very attractive.
Isn’t that kinda stupid? BTC is insanely hard compared to rouble and Russia can’t print it. Meaning contracts and debt written in BTC have to be payed in actual worth.
And who in is right mind is selling BTC for rouble in nation scale amounts?
The least surprising news ever.
Russia has used bitcoin for ages, like all other criminal scum.
Ironically bitcoin is completely traceable now, likely easier than usd to track
I mean, of course. This is exactly what it was made for. Uncensorable. No middle man. Out of reach of any law enforcement. This is the logical consequence of all its properties. Did you think criminals, terrorists and sanctioned nation states wouldn’t use it? Did you think they wouldn’t use the tool you gave them?
Bitcoin is also how a lot of people including Russians covertly and safely donate to Ukrainian charities and the pro-Ukrainian war effort.
ITT: a bunch of people with strong opinions but with nothing to back those opinions
They still have to use the Ruble one way or another so if not then the Ruble will continue to decline. Hooray
I guess it is not working great for them? If it was they would not have mentioned it.
So from now on, when Bitcoin goes down, Putin tells what a great thing it is.
Didn’t Trump just mention [having a strategic reserve of Bitcoin](https://www.forbes.com/sites/mauriciodibartolomeo/2024/11/07/trumps-top-3-bitcoin-promises-and-their-implications/) AND just get a pro-Bitcoin GOP person in the white house? I’m sure that Russia using it is just coincidental and any scheming/pump and dump/scamming of American taxpayer money by Trump and his russian friends will be a coincidental oopsy-doodle and somehow “the Democrats fault!!!!11!!!” because something something marxism communism eating the dogs eating the cats garbage island rapist and thieves(sounds of furious masturbating to white supremacy edgelord buzzwords)”
Blackrock are going knee deep with crypto too.
Interesting how this will all play out…
Probably tRump’s Bitcoin.
I sure hope this means western governments decide to make bitcoin illegal.
Look at Dubai….wealthy Russians buy Bitcoin using rubles in Russia ….. then sell the Bitcoin in Dubai and pay 0 taxes and buy real estate….