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Google examples, there are a lot of very much different cases, sometimes wild ones. As example, whole country of Russia was locked out of all non-RUB assets in
by out_of_protocol 4y ago
Google examples, there are a lot of very much different cases, sometimes wild ones. As example, whole country of Russia was locked out of all non-RUB assets in their banks (at this moment restrictions are partially lifted), in Belarus you need 10+ work days to take at most 10K USD and 3K EUR out of bank per month.
- hef19898 4y agoIn bith cases we talk about international sanctions. So you are saying that one of crypto's advantages is, basically, illegal finance. Nice.
- out_of_protocol 4y ago> international sanctions Not really, in these cases banks themselves decided to not give away "their" money
- FabHK 4y agoThat is indeed one of the main "innovations" of cryptocurrencies: the circumvention of rules and regulations. (Reminds me of Uber.)
- roenxi 4y agoThe problem is, when discussing international sanctions, that most of the finance is probably illegal. The US bans, say, economic activity in Iran. Iran bans economic activity in the US. Now all the finance in both economies is illegal. Something being illegal doesn't really say what can and cannot be done. Or what is a good idea. Or what is moral. It is a vague signpost and really only matters as far as things can be enforced.