Hi HODLers.
I have been taking time off my blogging hobby over the past few days as I had some personal objective and the daily news of the Ukraine/Russia conflict kind of made me feel down and got me thinking.
As I planned to write today, I felt like writing on an absolutely different topic before I saw this piece of news: 'Ukraine Asks Exchanges to Freeze Russian, Belarusian Crypto Accounts'
I thought we used it to get some funding and resources to the Ukrainians and now we need to shut it down unilateraly to "innocent citizens?"
Mykhailo Fedorov, Ukraine's vice prime minister and minister of digital transformation, has asked "all major crypto exchanges to block addresses of Russian users."
Fedorov tweeted his request, explaining that "it's crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users."
Binance, one of the world's leading cryptocurrency exchanges by trading volume, said it has no plan to freeze user accounts in Russia.
Binance was asked about it and through a spoke person replied the following:
"We are not going to unilaterally freeze millions of innocent users' accounts. Crypto is meant to provide greater financial freedom for people across the globe. To unilaterally decide to ban people's access to their crypto would fly in the face of the reason why crypto exists. However, we are taking the steps necessary to ensure we take action against those that have had sanctions levied against them while minimizing impact to innocent users. Should the international community widen those sanctions further, we will apply those aggressively as well,”
Jesse Powell went out of his way with a very nice thread. He is taking the risk to be lapidated at this specific moment but he has a very rational thought and a fundamental pro-freedom's posture.
I particularly like this quote warning Russian citizens:
"Russians should be aware that such a requirement could be imminent."
So for this, Thank you Jesse.
Stay safe out there,
Hello @vlemon
It's hard to be aware of what's going on and not be emotionally affected by it. More so now that social media but.iten to be aware minute by minute.
I try to stay out of it and only see a few times a day that information. Because it affects me.
Cryptocurrencies can help the Russian people to overcome these complex moments, however, the big problem is that in the same way politicians can use cryptocurrencies to continue financing the war. This is a great point to analyze.
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Dear @vlemon
Im myself also not in support of some sanctions. If killing innocent Ukrainians (civilians) is a war crime, then why sentencing thousands Russian civilians to suffering and death from cold and starvation is being accepted?
Most of those sanctions do not hurt where it hurt the most. They are aiming common people and destroying their lifes. In some crazy hope that those people will turn against Putin and will take him down somehow.
Reality is, that those people who oppose Putin will end up with long prison sentences for spreading miss-information. Apparently 15 years is what Russians may expect in such a situation.
This should not be the way.
Words of Mykhailo Fedorov are just cruel beyond imagination :/
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It's me agin @vlemon
I was wondering if you have any view on future of Russia financial system (especially from the perpective or regular people) after interest rates has been hiked to 20%?
I can hardly imagine being able to pay any loans or morgage in similar situation. Especially while knowing, that all imported items will cost so much more since value of Rubel dropped so badly.
Any thoughts you like to share?
Cheers, Piotr
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Well from the West's perspective, we have cut ties with them...
From their perspective, they cannot relit on anything coming from the outside as you said their money makes everything imported so expensive.
They still do have a lot of ressources and minerals that they can export to get some foreigh currency (USD, Yuan...) . But this is gonna be very tough on the average Russian.
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Hello friend @vlemon.
These sanctions affect much more the people than the government as such, they accuse Russia of many things but those who generate the sanctions attempt against the Russian publo, situation that has happened in Venezuela, only without an arms war, but the sanctions attempted against the population and nobody says anything about that.
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I don't think implementing a blanket ban against Russians' accounts is a right move simply because most of those accounts belong to regular people who have nothing to do with Putin or the Russian government. It's a bit extreme to push innocent users into a political conflict
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