The height of the encrypted currency threatens to cause a gap in Russian sanctions

The tanks penetrated and the missiles were cut over Ukraine, and Ukraine's deputy prime minister, Mikhailo Fedorov, tweeted on February 26, saying, "Stand with the people of Ukraine, we now accept donations in encrypted currencies," and throughout the next seven days of his appeal sent more than 100.000 people value $ 60 million from "Bitcoin" and "Ethereum" and other digital currencies to the addresses published by Fedorov.

The British co -founder of Etheerium sent Javin Wood 5.8 million dollars, Alex Machinski, a child -born entrepreneur in Ukraine and the pioneer of the encrypted currency fund "Celsius", donated, and also provided $ 25 of "Bitcoin" for each user account in Ukraine to help its owners pay the price of goods and basic services.

Machinski expected that the role of the cryptocurrency will grow while Russian President Vladimir Putin continues to attack the country, and Machinski said, "This is just the beginning, and if Putin takes over, he will take over the management of the central bank and manage the financial system in the country, so if you want to support the dissidents, you will not be able toDo this only using (Bitcoin), and you will not be able to do this through traditional means because it will go away from existence..He added, "The importance of this parallel financial network will be very dramatic during the coming months and years.".

The potential and sediment of encrypted currencies

وألقت الحرب الروسية - الأوكرانية بظلال حادة على The potential and sediment of encrypted currencies، ومن ناحية أخرى ربما لم تكن فائدة العملات الرقمية التي لا حدود لها والتي يمكن إرسالها عبر العالم ببضع ضغطات على المفاتيح أكثر وضوحاً من أي وقت مضى، والجانب الآخر هو أن السياسيين والمنظمين استيقظوا فجأة على حقيقة أن الجهات الفاعلة السيئة يمكن أن تستخدمها أيضاً، وفي هذه الحال من المحتمل أن تتجنب موسكو العقوبات التي فرضتها أميركا وبريطانيا والاتحاد الأوروبي على المليارديرات والـ "أوليغارشيين" (عائلات نافذة معدودة تورث النفوذ والقوة من جيل لآخر) والسياسيين الذين لهم صلات ببوتين.

The head of the American policy at Chenalisis, which specializes in encrypted data, Salman Banai, told The Times that the war appeared like "September 11), the governments have largely buried their heads in the sand for years, hoping that digital currencies will disappear".In response to Russia's unjustified attack on Ukraine, the world leaders met last week and decided to freeze Moscow's foreign reserves of $ 630 billion, and the scene of foreign powers that prohibit a sovereign state of reaching its own money revealed the fact that any paper currency has no value unless governments allow them to spend it.

And freezing these precautions in addition to isolating Russian financial institutions from the "Swift" system, which allows banks to deal with each other, reached the limit of the financial knees without warning, and while it took a historic moment of unity and will by governments around the world, it was not difficult to doIn particular, the day, Russia had 630 billion dollars in securities and deposits with foreign banks and brokerage, and the next day they did not possess them, as the "ruble" collapsed by a quarter.

Crossed currencies are immune to state interference

This was a kind of dramatic events from which the enthusiasts of cryptocurrencies warned for years, and Bitcoin was designed in 2008 as an "electronic cash system from counterpart to counterpart" without limits, and instead of relying on financial intermediaries to process transactions, it instead is used as a professor's book Lammazzi is on thousands of computers around the world, and it is operated by a symbol that is not controlled by any person, state or one entity, and the basic attraction is that it is immune to the intervention of the state, and the truth is that the cryptocurrency, whether it is "Bitcoin" or one of Thousands of other currencies that were created after that, are mostly accessible through platforms such as "Queen Biz", "Pinnas" and "Krakin", and these companies are like any other company that is subject to regulations, fines and political pressures.

In fact, as part of the campaign against the protest of truck drivers, the last "Caravan of Freedom" in Canada, the authorities last month issued a black list of 34 encryption wallets, which are often unknown addresses on the Internet that individuals use to retain and deal with cryptocurrencies, and the matter was not prohibited from "Bitcoin" transactions. In itself, but instead prohibited the organized financial institutions of dealing with these headlines because they sought to convert encrypted currencies into money to finance the protests, and likewise the major digital currency exchanges pledged to follow the orders of sanctions against Russian politicians and businessmen, and the Ukrainian Fedorov tried to go further than That demanded last week to freeze the accounts of all the Russians.

The founder of "Krakin", Jesse Powell, said he could not act "without legal condition.".He added, "Our mission is to serve better by focusing on individual needs over the needs of any government or political faction.".

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The founder of "Pinnas" Changing Chu also rejected a comprehensive ban, and told "BBC" that doing so would fly with the "core of encrypted currencies".

As for the ordinary Russians, the conversion of the "ruble" to digital currencies can protect their savings from the currency decrease, and with Putin approaching the war in February, the bitcoin purchases of "ruble" reached its highest level in nine months..

The high prices of "Bitcoin" and "Ethereum"

The prices of "Bitcoin" and "Ethereum" increased by 10 percent and four percent, respectively since the war began, however it is likely that the pressure on the industry and exchanges is more likely to escalate.

Former US Secretary of State Hillary Clinton denounced the sector's unwillingness to completely exclude Russia "because of the liberal philosophy (it is also called the philosophy of freedom) or anything else", usually requires the largest exchanging exchanges of people to define themselves when creating an account, which facilitates compliance companiesFor penalties orders, but some allow completely unknown accounts to work, which opens the way for money laundering and evading penalties.

Ukraine is a friend of encrypted currencies

Meanwhile, the Ukrainians funded a collective support for the resistance, and helped them that this is one of the most friendly countries that are encrypted in the world, and even before the war, transactions in encrypted currencies were addressed every day more than those that were their own currency, "Hyrifna", and many companies accepted digital currencies.To pay, this has become very important amid the collapse caused by the war of its financial system that led to the closure of banks and the dedication of cash machines..

The cryptocurrency is not the healing medicine, but it passes a moment when it meets its promise and fulfills its fears, what a wonderful and terrible thing at the same time.