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"Kraken CEO Jesse Powell has responded to calls for his company to freeze the crypto assets of Russians amid its attack on Ukraine.
Ukraine’s Vice Prime Minister Mykhailo Fedorov publicly asked all major crypto exchanges to freeze accounts in a bid to further challenge Russia’s resources and stop the war.
But the cofounder of one of the most popular crypto trading venues in the U.S. has refused, explaining his position in a Twitter thread. While he has “deep respect” for the people of Ukraine, he said he believes crypto should enforce individualism, rather than nationalistic alliance to a country.
Besides, if we were going to voluntarily freeze financial accounts of residents of countries unjustly attacking and provoking violence around the world, step 1 would be to freeze all U.S. accounts,” Powell wrote on Twitter. “As a practical matter, that’s not really a viable business option for us.”
Kraken CEO fires back at Ukraine’s request to freeze Russian crypto: ‘Step 1 would be to freeze all U.S. accounts’
https://finance.yahoo.com/news/kraken-ceo-fires-back-ukraine-212333862.html
"Kraken CEO Jesse Powell has responded to calls for his company to freeze the crypto assets of Russians amid its attack on Ukraine.
Ukraine’s Vice Prime Minister Mykhailo Fedorov publicly asked all major crypto exchanges to freeze accounts in a bid to further challenge Russia’s resources and stop the war.
But the cofounder of one of the most popular crypto trading venues in the U.S. has refused, explaining his position in a Twitter thread. While he has “deep respect” for the people of Ukraine, he said he believes crypto should enforce individualism, rather than nationalistic alliance to a country.
Besides, if we were going to voluntarily freeze financial accounts of residents of countries unjustly attacking and provoking violence around the world, step 1 would be to freeze all U.S. accounts,” Powell wrote on Twitter. “As a practical matter, that’s not really a viable business option for us.”
Kraken CEO fires back at Ukraine’s request to freeze Russian crypto: ‘Step 1 would be to freeze all U.S. accounts’
https://finance.yahoo.com/news/kraken-ceo-fires-back-ukraine-212333862.html
Well then step 2 would be USD losing its reserve currency status and BTC taking over supremacy like in the BTC time traveler (even though you could argue that was debunked it wasn't posted by the original poster but rather Reddit themselves after seeing BTC hit insane levels) that post was like a Mandela effect.
Step 3 is when the Elites blackout the west through a series of internet hacks which will hack the west's banking system blamed on the Russians then we will own nothing and be happy per Klaus Schwab al a the Great Reset.
RussiaCoin
Here's the formula for Russia to get around the monetary sanctions. Other countries won't do this, because they are in fear of the US sanctions. But Russia, being in the middle of it already, won't be hurt if they try.
1. Russia > Start a national Cryptocurrency called, say, RussiaCoin.
2. Make their blockchain not dependent on mining and miners.
3. Rather, increase number of coins by offering every person who makes a Ruble purchase in every Russian store in Russia, the same number of free RussianCoins as the amount of Rubles in the purchase.
4. The value of the RussianCoin must be set so it can never drop below the Ruble, but can increase to any value above the Ruble.
5. Since they are free, many Russians will accept them.
6. Russia > Make a Russian Crypto Exchange that can trade any CryptoCoins, including the RussiaCoin, and...
Watch what happens. Instant black market, with many poor people around the world, with an inflow of many Altcoins into Russia, and a gradual breaking of the sanctions, and increase of the Ruble value. Alternately, RussiaCoin might become the new world currency.
Here's the formula for Russia to get around the monetary sanctions. Other countries won't do this, because they are in fear of the US sanctions. But Russia, being in the middle of it already, won't be hurt if they try.
1. Russia > Start a national Cryptocurrency called, say, RussiaCoin.
2. Make their blockchain not dependent on mining and miners.
3. Rather, increase number of coins by offering every person who makes a Ruble purchase in every Russian store in Russia, the same number of free RussianCoins as the amount of Rubles in the purchase.
4. The value of the RussianCoin must be set so it can never drop below the Ruble, but can increase to any value above the Ruble.
5. Since they are free, many Russians will accept them.
6. Russia > Make a Russian Crypto Exchange that can trade any CryptoCoins, including the RussiaCoin, and...
Watch what happens. Instant black market, with many poor people around the world, with an inflow of many Altcoins into Russia, and a gradual breaking of the sanctions, and increase of the Ruble value. Alternately, RussiaCoin might become the new world currency.
Yes, Russian aggression against Ukraine is intolerable and must be addressed immediately, but this does not mean that Russian crypto accounts should be banned on some popular exchanges. This of course goes against the basic value of cryptocurrencies which is "intervention free". We must understand that the decision of the Russian government has nothing to do with crypto users in that country. I totally agree with the statement from Kraken CEO.
I saw that and thought it was a pretty typical answer from someone overseas. Still funny though. No doubt the United States military has been in other countries but tend to view the world only from their/our position. I’m glad people are taking that stance though. Surely if all of us United States citizens were cutoff from services because of the bad choices of our government it would seem unfair to us. So I think he makes a good point, even if it’s a shot at my own countrymen.
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