Re:Crypto is an unproductive bubble
by lern_too_spel on Sunday March 20, 2022 @10:59AM
(#30743154)
If you're a random Ukrainian citizen in Russia, you can buy assets outside Russia and have your wealth on the other side before the sanctions. The fact that you can buy Bitcoin in Russia from other Russians and leave is only a temporary workaround with Russia not yet regulating it. People consistently mistake the fact that Bitcoin hasn't been regulated with the idea that Bitcoin can't be regulated, which is false.
[ Parent
| on HN ]
It’s harder to regulate and easier to buy than assets outside of Russia.
This is probably why Chinese wealth leverages it to get around attempted controls by the ccp despite regulation.
Re:Crypto is an unproductive bubble
by lern_too_spel on Sunday March 20, 2022 @12:39PM
(#30744177)
> It’s harder to regulate
Why? It is just as easy to regulate as any other tracked asset. Physical items are much harder to regulate.
China simply hasn't started enforcement.
It’s harder to enforce regulations for self-custody crypto than it is to enforce regulations on centralized banks that hold wealth for you.
Mostly because it’s harder to confiscate (more akin to a physical item in your possession)