Russian companies are using bitcoin to evade Western sanctions, thanks to a new law, the country's Finance Minister Anton Siluanov confirmed in a television interview.
Axios - Russia says it's using bitcoin to evade sanctions
-- Lola Gayle (@lolagaylec.bsky.social) December 26, 2024 at 6:41 AM
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@#5 ... no government will have control over it, ...
That depends entirely upon what your definition of "control" is.
Bitcoin is already subject to regulations here in the US and elsewhere....
Bitcoin Government Regulations Around the World (2019)
www.investopedia.com
... The idea of digital currency is a very new one, and central banks around the world are still reeling from the implications of such a technology. Blockchain, bitcoin, and new innovations from the fintech sector are showing that they can improve the status quo, but also advance the concept of digital currency, making it a real contender to replace fiat money. This is putting the world's governments in an awkward position.
On one hand, creating legislation that encourages the adoption of cutting-edge financial infrastructure could be a massive boon to economic competitiveness. On the other, giving people too much freedom may risk the integrity of the country's own paper money. A balance has not yet been struck, and so accordingly, major governments have reacted quite differently to the introduction of bitcoin (and other cryptocurrency technology) in their respective countries. ...
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