Will the Ukraine War end the USA and World use of cryptocurrency?

The Chicago Tribune – NYT _ article titled: To Blunt Sanctions, Russia can turn to Cryptocurrency, reported

“Should it choose to evade sanctions, Russia has multiple cryptocurrency-related tools at its disposal, experts said. All it needs is to find ways to trade without touching the dollar.”

3 1 2022 Bitcoin price is $ 44,957

The Purpose of This Post

Is to relate ancient wisdom verse to this conundrum.

King Solomon

Cast but a glance at riches, and they are gone, for they will surely sprout ‘wings and fly off to the sky like an eagle. (Proverb 23:5)

What’s My Point?

If Russia can use cryptocurency to circumvent World Sanctions being used as a form of an attack weapon, cryptocurrency use will be used as a weapon of defense.

In My Opinion

China leaders appear to be wiser than the USA when they outlawed the use of cryptocurrency.

Time for the USA to wise up to the use of cryptocurrency as a tool for Anonymity afforded by users to make use of cryptocurrency to mask unlawful use.

If now used to circumvent World sanctions of Russia, it is folly for the USA and World to allow the use of cryptocurrency, in my opinion

If Interested

Read the source links below

You Decide

Is it wise or foolish to allow cryptocurrency to be used as legal tender in time of war?

Should current owners of cryptocurrencies discern King Solomon above advice

Regards and goodwill blogging.

Source Links

Chicago Tribune – NYT

Wikipedia Cryptocurrency


Cryptocurrency Prices