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RE: Russia Going To Require All Crypto Wallets To Be Disclosed?

in LeoFinance2 months ago

Prison sounds scary, while not exactly easy to identify a crypto user that would certainly not bemefit faster adoption. If you can't win with inteligence then you can resort to pure display of violent power.

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I have to wonder why the Russian government is cracking down so hard on cryptocurrencies. I think the most likely answer is that the government thinks cryptocurrencies could be used to fund the activities of the opposition. This has absolutely nothing to do with curbing money laundering or fighting crime. It is well-known that Russian oligarchs have transferred trillions of dollars worth of their money, much of it gained through corruption, to overseas financial institutions to be laundered there and to end up in their bank accounts in tax havens.

Totally agree. When given a thought that seems the only reasonable explanation. They do not want any kind of forces to go under their radar i guess. And force and power is almost always associated with the wealth. So they want to keep control of it and i am sure they know more than we do.

I believe your explanation might be straight to the point.

There is an author on Quora called Dima Vorobyev who used to work as a propaganda executive during the Soviet times. After the fall of the Soviet Union, he went into marketing.

Vorobyev is a brilliant writer whose thesis is that the Russian civilization is a European project of colonization and extraction of the Eurasian continent. For as long as Russia has existed, it has only properly functioned when ruled by a strong centralized state controlled by an elite. All other times have only seen chaos, deep insecurity and hunger. This view of Russia explains the paradox that rulers like Stalin are so popular in Russia despite the fact that Stalin killed more Russians than Hitler.

Stability and the absence of total lawlessness and constant drive-by shootings in the middle of the day like in the 1990's but without a concentration camp system in place is something that, historically speaking, Russians should be happy for. In that sense, particularly the high oil price fueled bonanza of 2000-2014 when Russians enjoyed stability and a constantly rising standard of living under president Putin was an exceptionally good period in Russian history. Now that the standard of living is no longer rising, there seems to be growing resentment in the population. The government is doing what it can to try and quell all resistance. Putin is a former spy. He's going to use the most subtly effective and carefully calculated measures he can. The crackdown on crypto is part of that.

The part of that history is well known to me, since i am from Lithuania myself, a country occupied by Soviet Union after WW2.

I wonder if Puting himself HODL's Bitcoin :D

I wouldn't be surprised if Putin or some in his circle hadn't dabbled in crypto as well. At some point, Putin was interested in the potential of crypto. He invited Vitalik Buterin to the Kremlin to talk about them some years ago.