Russia

[96583UP]

Read the article, they discuss a certain currency that’s already got a hold on both Russia and Western Europe. Apparently the exchanges are done in-person, at specific places that you can find out about via the block.

“Wallets are traceable” isn’t really the case, not practically speaking. But I think it a great point you have about markets mooning!

dude i thought you were further along in your crypto jedi training in this wtf

'russia to evade sanctions using crypto' means their government, or sanctioned individuals, would seek to transmit large sums of money via crypto

The russian central bank has approx $670 Billion in foreign assets frozen that they can't move. 'using sanctions to evade crypto' would mean using traditional assets (likely rubles) to buy crypto, sending it to someone, who then receives it and keeps the crypto or converts it back to fiat currency (the latter more likely)

To transform fiat into crypto and vice-versa ('on ramps', 'off ramps') are only capable via centralized exchanges which have connectivity to banks. Those centralized exchanges on board individuals and institutions, not anonymously (for amounts greater than $10,000). Centralized exchanges (CEX) can be monitored, exchanges can be shut down. Exchange owners can be indicted or subpoena-ed or sanctioned themselves. Centralized exchanges are necessary to on/off ramp fiat. They are not anonymous.

Every transaction between crypto accounts is on a public ledger, you can see where it comes and goes - the question becomes 'what person owns this account' (string of numbers and letters) - even for 'hot wallets' (not on an exchange) you follow the transactions far enough and it gives you some clues as to who it might be, because it ultimately ends up 'somewhere' and is used for something. But to get it back into fiat, it has to go through a CEX, and CEX's mean you lose anonymity.

The size of the entire crypto market right now is $2 Trillion, most of that is BTC sitting in cold wallets with legacy whales, not being traded. Any $670B buys would make the market explode. And any $1B, or even $100MM buys, would be very visible - given how closely traders and technical analysts watch crypto markets, how segmented the markets are (all exchanges are their own siloed ecosystem and own market makers), and given how weak crypto markets have been since November (any whale dropping 9-figure+ tickets is noticed)

no one is moving any meaningful amount of 'sanctions money' and getting away with it using crypto

(edit) and this Treasury official agrees:

Treasury officials say they aren’t overly worried about crypto undermining the effort to choke off the Kremlin’s access to capital. Laundering large amounts of money through a dizzying array of digital wallets and exchanges is expensive, time-consuming and would likely be visible in the broader crypto market, given the massive investment portfolios of individuals and institutions named in the sanctions.

“The scale of what they have to move, and where they have to move things from, [crypto’s] not necessarily going to be that concerning,” said Todd Conklin, counselor to the deputy Treasury secretary. Any attempt to move that much money through exchanges would contribute to “a bit more of a spike in the crypto market, in my view, than has been observed lately.”

I AM AWARE!

Again, the article specifically covers an exchange that was being used here that, if I’m reading correctly, only happens in person, in specific locations. And again, laundering through crypto is common.

But again, I think your prior point about the volume limit of the currencies was astute. And in any event, if the US officials are saying they’re not overly worried, I’m glad to take that at face value.

But for the love of Satoshi don’t you ever question my understanding of crypto again!

EU will take measures on cryptocurrencies to prevent Russia from bypassing sanctions

how brave! they must be using one of these

[dimejinky99]

The British government will not be imposing any sanctions or asset seizures on Russian oligarchs for 18 months.


We all know why but eighteen fuckin months.

[Anders]

They should do more:

"After facing ridicule for initially sanctioning just three Russian oligarchs and five banks, Johnson expanded the list to include 100 companies and individuals, eight of whom are oligarchs. He also canceled the golden visa system, which since its inception in 2008 has allowed wealthy foreign investors the option to settle in Britain if they have at least £2 million ($2.7 million) to invest in the U.K. British Foreign Secretary Liz Truss said on Monday that the government was working through a “hit list” of further oligarchs with links to the Kremlin.

Opposition lawmakers in the U.K. have said that only two people on the list of 35 oligarchs and others who enable the Putin regime, named by jailed Russian opposition leader Alexei Navalny, are on the U.K. sanctions register. Roman Abramovich, a billionaire, former Russian politician and owner of Chelsea Football Club, is one of the people named on Navalny’s list. Abramovich has denied having close ties to Putin or the Kremlin."

[dimejinky99]

This is how balls deep the Russians are into the British government. Boris Johnson made this guy a lord. He’s Russian ffs. His dad was kgb. These are the lads who funded and orchestrated brexit at putins command.
It’s all so utterly fucked

[Anders]

Fully agree.

[dimejinky99]

Then look over the water at elements of the GOP literally Cheerleading Putin.

They’ve been bought.

Insane times we’re living in. Insane.

[BurtReynolds]

Why is it my lot in life to suffer this thread? What horrible crime did my ancestors commit to saddle me with this curse? But is this really my fate? Is there no one else that can take up the burden of teaching these fools? Or am I the fool for trying to save cattle from the herd? Can I just walk away? Let it go? Imagine the power I could wield!

[bada]

Crom cares not for your suffering. He laughs. Laughs on his mountain.

[JuanHamm]

Why is it my lot in life to suffer this thread? What horrible crime did my ancestors commit to saddle me with this curse? But is this really my fate? Is there no one else that can take up the burden of teaching these fools? Or am I the fool for trying to save cattle from the herd? Can I just walk away? Let it go? Imagine the power I could wield!

The only way to win is to disengage.

[McParadigm]

Why is it my lot in life to suffer this thread? What horrible crime did my ancestors commit to saddle me with this curse? But is this really my fate? Is there no one else that can take up the burden of teaching these fools? Or am I the fool for trying to save cattle from the herd? Can I just walk away? Let it go? Imagine the power I could wield!

The only way to win is to disengage.

*log off

[BurtReynolds]

[Mickey]

The pains of being pure at heart

[spike]

Why is it my lot in life to suffer this thread? What horrible crime did my ancestors commit to saddle me with this curse? But is this really my fate? Is there no one else that can take up the burden of teaching these fools? Or am I the fool for trying to save cattle from the herd? Can I just walk away? Let it go? Imagine the power I could wield!

The only way to win is to disengage.

*log off

*delete account

[elliseamos]

Stand on a hill top and look at fog.

[JuanHamm]

Why is it my lot in life to suffer this thread? What horrible crime did my ancestors commit to saddle me with this curse? But is this really my fate? Is there no one else that can take up the burden of teaching these fools? Or am I the fool for trying to save cattle from the herd? Can I just walk away? Let it go? Imagine the power I could wield!

The only way to win is to disengage.

*log off

*delete account

*Endlessly obsess about things you have absolutely no control over

[elliseamos]

Stand on a hill top and look at fog.

OR...

[simple schoolboy]

Do it for her:

[Anders]

[BurtReynolds]

Neocons feeling their power today.

[Bammer]

Hey Argo if you happen to see this, because we really don’t have a better thread for it, any concerns about traveling to Ireland any time soon might be more relevant to airspace restrictions. Like, would your flight need to travel through Russian controlled airspace? If so, careful, don’t get shot down.