It is also a war on cryptocurrencies. What is happening

It is also a war on cryptocurrencies. What is happening

by Carlo Terzano
War and cryptocurrencies; news and scenarios

The fact that Russia may actually accept Bitcoins from some countries as payment for oil and gas supplies, as written by the BBC, citing the head of the Duma’s energy commission, Pavel Zavalny, is just the latest clue. which allows us to understand the centrality of cryptocurrencies, on both fronts, in the war between Russia and Ukraine. But not only that: we could really be at the beginning of a currency revolution. But let’s go in order.
BLACKROCK: THE WAR ACCELERATES THE ADOPTION OF CRYPTOMONETS
If more evidence is needed, it comes from the annual letter that Larry Fink, CEO of BlackRock, the fund of funds, addresses to investors. In the text he underlines how “a less discussed aspect of the war is its potential impact on the acceleration of digital currencies”. According to Fink, the issue of cryptocurrencies is now central and a priority as the war “will push countries to re-evaluate their currency dependencies. Even before the war, several governments were trying to play a more active role in digital currencies and define the regulatory frameworks under which they operate. The US central bank, for example, recently launched a study to examine the potential implications of a US digital dollar. ”
EUROPEAN AUTHORITIES INVITE CITIZENS TO CAUTION
And while Fink looks to the future, and even hypothesizes “a global digital payment system” to “improve the settlement of international transactions by reducing the risk of money laundering and corruption” and “reduce the costs of cross-border payments when expatriate workers return earnings to their families “, in the Old Continent, in the midst of the war between Russia and Ukraine Esma, Eba and Eiopa have issued a note to warn consumers against the risks of investing in cryptocurrencies which, in the sea magnum of the Web, trading, tokens and NFT animate the business of 17,000 different businesses, which daily sell, in 60% of cases, Bitcoin and Ethereum.
BITCOIN & CO. NEW GOOD REFUGE
If the war between Russia and Ukraine has inflamed the prices of a large quantity of raw materials – from gas to wheat, passing through metals and rare earths – and led to the collapse of their respective national currencies, according to the data available, the populations concerned , to protect themselves from further write-downs, they started investing in virtual currency. In other words, cryptocurrencies are becoming a safe haven asset.
THE (UNHEARD) APPEALS BY UKRAINE TO EXCHANGE COMPANIES
In Russia, then, cryptocurrencies are used to bypass the blocking of payment systems such as PayPal, Visa and Mastercard. It is the reason why the Ukrainian authorities have asked the largest exchanges in the world, from Binance to Coinbase via Kraken, to freeze the movements of Russian customers, also to prevent those platforms from being used to circumvent sanctions.
DOES RUSSIA RELY ON DIGITAL YUAN TO BYPASS SANCTIONS?
Speaking of sanctions, the digital yuan or renminbi could be exploited by Moscow as an alternative to the dollar in international payment systems, thus circumventing the Swift messaging system from which Russia was recently expelled. Also (but not only, as we will say shortly) for this reason the US president, Joe Biden, has accelerated the decree for the “digital dollar” project which, however, despite the name, has nothing to do with the cryptocurrencies known so far .
THE DIGITAL DOLLAR WILL HAVE TO FOLLOW THE CHINESE VIRTUAL CURRENCY
In fact, current cryptocurrencies are private and, for this reason, largely unregulated. We are instead in the field of CBDC, or the digital version of “public” currencies and therefore managed by central banks. It is not a trivial fact: while on the one hand the regulations prevent these coins from having who knows what sudden exploits in terms of value, investors know that behind, on a fiduciary level, there is still a country, with its reserve. aura. In short, they are guaranteed exactly like traditional currency. Central Bank Digital Currency (CBDC) is therefore a new form of currency different from digital money, inextricably linked to the Bank that issues it.
FROM THE SILK ROUTE TO MOSCOW
The digital dollar is therefore a competitor of the virtual renminbi, although it risks making its debut five years away from the Chinese cryptocurrency, in what will be the digital war of tomorrow. The Chinese experimentation has already involved 260 million citizens with the aim, not too hidden, of aiming to become a currency to be used for international trade: hence the recent experimentation coordinated at an institutional level by the Bank of International Settlements (Bis) between the central banks of China, Thailandia, United Arab Emirates and Hong Kong. The digital Yuan could, as a first step, act as a ‘dollar’ in exchanges between countries that adhere to the Belt and Road Initiatives. And the war in Ukraine could allow Beijing to extend the test to the entire Russian population.
Now, with Biden’s decree, something is also moving in the US, waiting for Brussels to shake up the stagnant waters in which the digital euro seems to have drowned. The first reports and recommendations should arrive within 180 days. 16% of adult Americans, 40 million people, have so far invested, traded or used digital tokens for their online operations.
UKRAINE, IN WAR, DOES NOT RELEASE CRYPTOMONETS
Similarly, Kiev does not intend to hold back on the development of its central bank digital currency (CBDC) despite the armed conflict between Russia and Ukraine. Ukraine’s CBDC is still moving forward, according to an interview with Stellar CEO Denelle Dixon in Coindesk on March 21. Dixon said CBDC is “something [Stellar] will continue to work with [Ukraine] on.” She also admitted that – inevitably – there have been some delays, as the people involved in the project have not been able to access their offices and she said she doesn’t know when the CBDC will be launched. According to the plans of the Zelensky government, Ukraine should have taken steps to become a cashless society as early as this year and is among the 80 states that are working on a digital currency.

COMMENT: it is time for the Western Nations to wake up and stop taking from the warehouses of the Big Cybersecurity Companies and the Block-Chain fanatics. The block-chain system has an anarchist basis and is a false democracy, in which the actors are big capitalists while the common man is subject to scams and the Ponzi effect.
Western governments and parliaments are invited to consider the ONLY ENCRYPTED DIGITAL CURRENCY that does not need a block-chain for integrity checks and has ZERO environmental cost. Read what we offer in the other articles on the site. if the Digital Dollar arrives in two years, the world is already all with the digital yuan. We have the READY, TESTED solution, in 3 months we will provide the complete system, assistance and training to the customer and the digital dollar rather than the digital euro are already in the pockets of citizens. But let’s not forget our English friends too. To reject this possibility for small shop interests means to cede world domination to Non-Democratic Nations. All deaths for the defense of Ukraine are useless.

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