Virtually every crypto bro in the world is a law-abiding outlaw. We're constantly living at the periphery of the law enforcement because while we're not doing anything wrong, we'll never be accepted.
Lately, different governments have been talking about crypto in different ways. On one hand, we have countries like Ukraine and El Salvador that are very accepting of crypto and on the other hand, we have the USA which isn't exactly crypto-friendly.
Don't get me wrong, people in the USA love crypto but the government, not so much. I heard Biden's new policies might be bullish for crypto but I find it hard to trust the words of politicians that are notorious for talking from both sides of the mouth.
Recently, the FBI director has been hammering away at Russia's interaction with crypto. In his remark during a senate meeting, he described Russia's ability to circumvent sanctions using crypto to be overemphasized.
The FBI director, Christopher Wray, cited information about a large number of tokens that were seized by the government as an example of how circumventing sanctions with crypto is vulnerable.
The FBI director alluded to the fact that using fiat would be easier to circumvent sanctions than it would be with crypto.
I consider the FBI director's view to be a fascinating and double-edged remark towards crypto. On one side, he's basically saying, "crypto ain't shit, we can track it". On the other hand, he's also saying fiat is the problem with sanctions.
According to Christopher Wray in a hearing of the Senate Select Committee on Intelligence,
“The Russians' ability to circumvent the sanctions with cryptocurrency is probably highly overestimated on the part of maybe them and others,” said Wray. “We are, as a community and with our partners overseas, far more effective on that than I think that sometimes they appreciate and there's a lot of expertise in terms of tools and strategies to help block that kind of effort. Ultimately, what they really need to do is get access to some form of fiat currency, which becomes more challenging."sauce
How weird is it that for once, crypto isn't exactly the bad guy in something related to politics? However, the question is, is it really true? Do you think the FBI have crypto on lockdown?
I've said on multiple occasions how crypto and crypto companies should not get involved in politics. Yet, somehow, crypto that is meant to be neutral is taking sides.
Don't get me wrong, the situation between Ukraine and Russia is dire, so all hands should be on deck. However, we're setting precedence and stoking the flames that we should be killing.
Recently, I read that coinbase prevents Russias from using the exchange. I also heard that infura prevents Russian Ip addresses from using metamask on Ethereum.
Crypto-related sanctions should not exist in the first place. A big part of crypto's utility is to get away from government meddling and protect the common man from the idiocy of the government.
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