When I opened Twitter shortly after waking up this morning, “Russian bread” was trending. Discussions about political correctness and the question of whether popular cakes should still be allowed to go in the register with the coffee on Sundays, because: It’s war.
That may sound strange to some now, but I don’t have to laugh at that at all. While one page of my Twitter account lights up blue and yellow in solidarity, others expose symbolic politics at its finest that ultimately help no one, only harm.
Russia is divided. And not only with the rest of the world, but also within Russia itself. Arrests during Russian protests against Putin’s war of aggression are met with mounting reports of Russian soldiers staggering through Ukraine almost as if lost. In any case, a clear common advantage of Russia in relation to the war against Ukraine looks different. Putin has failed to unite his people behind him and his war of aggression.
At the same time, I can hear the sirens of the air raid alarm in Kiev ringing in my ears. A video lodged in my head. TO worldThe journalist is reporting on the ground in the Ukrainian capital, while a loud and threatening alarm continues to sound in the background.
Crypto sanctions: Putin’s quicksand
The West sends weapons, aid money and words of encouragement to Ukraine, while Russia receives sanctions and the wrath of humanity. That’s right. Of course, people are currently looking for options to end this war against Ukraine as quickly as possible and prevent further escalation. They want to step aside and show their solidarity with Ukraine as much as possible.
The western snakebite that paralyzed the Kremlin runs deep. In addition to being banned from the SWIFT network, credit card giants Visa and Mastercard have also said goodbye to Russia. Google Pay and Apple Pay also suspended their activities for Russian transactions.
Ukraine’s digital minister Mykhailo Fedorov opts for one Financial support however, one step further. In addition to classic financial instruments, Russia’s crypto accounts on exchanges such as binance and octopuses be blocked. While this could be an added bonus in isolating the Kremlin, the common assumption that crypto is used to evade classic sanctions may have weighed heavily: bitcoin’s price hasn’t skyrocketed for no reason.
Active cryptocurrency exchanges in Russia responded to the call in much the same way. Binance, Kraken and Co. say yes to address blocking associated with sanctions. But they deny the massive blockade of the Russian public. And that’s a good thing, because putting the entire population under general suspicion would only play into Putin’s hands.
With the ruble falling, cryptocurrencies like bitcoin represent the last resort for many Russians to preserve the value of their savings. Therefore, a complete exclusion of Russian accounts from the crypto market could play into the hands of Putin, because the independence of Russian citizens who want to break with the Putin dictatorship has been lost in the quicksand of the Kremlin. Dependence on the destructive policies of a megalomaniacal president continued to grow.
A tightrope act
Ultimately, a certain balance is required here. Yes, the easiest way would probably be to just freeze all Russian addresses on crypto exchanges. However, this shows black and white thinking in a very complex situation.
A holistic approach is needed to contain Putin. The crypto sector should not have a special status here. However, in combination with the blocking of classical financial instruments, crypto sanctions would spell doom for innocent Russians. It takes more effort than pushing the most obvious button to the left: bankrupting the Russian people entirely.
Bitcoin is not a flag flying, but a humanitarian constant, a neutral technology with no political agenda. The digital currency promises financial self-determination for the population of the entire world, regardless of man-made borders, for the innocent citizens of Ukraine and Russia.
Do you want to buy cryptocurrencies?
In our guide, we show you how you can buy and sell cryptocurrencies in just a few minutes.
to the guide