12-08-2021, 11:51 PM
Why Putin May end up Tanking cryptos Permanently
<!-- SC_OFF --><div class="md"><p>I was just listening to the former CIA head of operations for the Russia-Ukraine region and he was explaining what sanctions power Biden and NATO have against Putin should the Russian dictator make the error of invading Ukraine. One main weapon is to ban all of Russia from the world banking system. Putin already has some banking sanctions and has gone heavily into cryptos in order both move money around invisibly and also to cover up his nefarious activities such as funding crime, terrorism, ransomware attacks. etc. Therefore, if Russia's banking and finance system is heavily sanctioned Putin may have no choice but to go even heavier into cryptos. The US, UK and EU have already expressed their need to regulate, tax and control cryptos, but if Putin tries to use cryptos as an escape hatch, I would think the western regulation would be even harsher. Maybe not an outright crypto ban but certainly a mandatory transparency law where no one is allowed to keep their ownership of cryptos a secret. If this happens, then almost every advantage of owning cryptos disappears and there could be a massive sudden capital flight from the crypto sector. This woujld be worst than a run on the bank since there really is no bank and crypto trading exchanges and brokerages would all simutanesouly fail. I was also listening to an CNBC expert describe why Bitcoin lost 20% in only 40 minutes last weekend. That is because there are no circuit breakers, there is 24;7 trading which is poorly regulated and no one really has any control over it. Programmed trading systems also start selling willy nilly if there are big sellers, so a snowball effect within minutes, and so presumably Bitcoin or any other type of crypto could fall off a cliff and end up close to zero as a permanently failed asset class, essentially worthless. Thoughts?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Immediate-Assist-598"> /u/Immediate-Assist-598 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/rbx1ie/why_putin_may_end_up_tanking_cryptos_permanently/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/rbx1ie/why_putin_may_end_up_tanking_cryptos_permanently/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I was just listening to the former CIA head of operations for the Russia-Ukraine region and he was explaining what sanctions power Biden and NATO have against Putin should the Russian dictator make the error of invading Ukraine. One main weapon is to ban all of Russia from the world banking system. Putin already has some banking sanctions and has gone heavily into cryptos in order both move money around invisibly and also to cover up his nefarious activities such as funding crime, terrorism, ransomware attacks. etc. Therefore, if Russia's banking and finance system is heavily sanctioned Putin may have no choice but to go even heavier into cryptos. The US, UK and EU have already expressed their need to regulate, tax and control cryptos, but if Putin tries to use cryptos as an escape hatch, I would think the western regulation would be even harsher. Maybe not an outright crypto ban but certainly a mandatory transparency law where no one is allowed to keep their ownership of cryptos a secret. If this happens, then almost every advantage of owning cryptos disappears and there could be a massive sudden capital flight from the crypto sector. This woujld be worst than a run on the bank since there really is no bank and crypto trading exchanges and brokerages would all simutanesouly fail. I was also listening to an CNBC expert describe why Bitcoin lost 20% in only 40 minutes last weekend. That is because there are no circuit breakers, there is 24;7 trading which is poorly regulated and no one really has any control over it. Programmed trading systems also start selling willy nilly if there are big sellers, so a snowball effect within minutes, and so presumably Bitcoin or any other type of crypto could fall off a cliff and end up close to zero as a permanently failed asset class, essentially worthless. Thoughts?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Immediate-Assist-598"> /u/Immediate-Assist-598 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/rbx1ie/why_putin_may_end_up_tanking_cryptos_permanently/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/rbx1ie/why_putin_may_end_up_tanking_cryptos_permanently/">[comments]</a></span>Kind Regards R