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Oligarchs are well taken care of by the traditional offshore banking industry. They don't need to fall back on crypto like regular folks.
by DennisP 5y ago
Oligarchs are well taken care of by the traditional offshore banking industry. They don't need to fall back on crypto like regular folks.
- doomrobo 5y agoOne piece of evidence for the above claim: https://www.icij.org/inside-icij/2021/03/u-s-sanctions-ukrainian-oligarch-featured-in-fincen-files-investigation/ https://www.icij.org/inside-icij/2021/03/u-s-sanctions-ukrai...
- joe_the_user 5y agoThat the wealthy have many other avenues for exfiltrating money doesn't change the situation that crypto is an extremely effective method for doing that. A lot of people need as many channels for the exporting of wealth as they can get. Iran's rulers might or might be oligarchs but the use of bitcoin by the Iranian state[1] seems like good evidence that crypto isn't just for the little guy. [1] https://www.reuters.com/technology/iran-uses-crypto-mining-lessen-impact-sanctions-study-finds-2021-05-21/ https://www.reuters.com/technology/iran-uses-crypto-mining-l...
- arcticbull 5y agoNorth Korea would beg to differ, having amassed billions in violation of International sanctions. [1] [1] https://www.investopedia.com/news/what-north-koreas-role-bitcoin/ https://www.investopedia.com/news/what-north-koreas-role-bit...