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While they may make money trading personally on crypto, they're in the best place to sell a currency just before they prohibit. They can make money trading with

While they may make money trading personally on crypto, they're in the best place to sell a currency just before they prohibit. They can make money trading with or without crypto, anyway. Regardless of the politicians' personal finances, countries are likely to squeeze on cryptocurrency so that their fiat currencies (which lost tons of value in the last 2 years, to fight the lockdowns imposed by the governments) would gain value. Putin's move is sensible and probably likely to be followed by other countries. The ruble lost quite a bit of value. It's likely we won't end up with gov backed cryptocurrencies but just a digital rebranding of USD. China is doing the same thing with the digital renminbi.

csdvrx 5y ago
> They can make money trading with or without crypto, anyway. It's not about trading. It's about taxes and bribes. Something that's illegible is in their interest. > Putin's move is sensible and probably likely to be followed by other countries For immediate concerns, yes. Long term, think different: if Russia or China want to overtake the USD, the Ruble or the Yuan have 0 fighting chance, even in their digital version. BTC has at least one. Of course, a nice crash would reduce the costs in them acquiring sufficient reserves :)