The U.S. and many other countries placed sanctions on them after Russia began its invasion of Ukraine.The Blockchain Association has been lobbying U.S. lawmakers against two bills designed to prevent Russian oligarchs from using cryptocurrency to evade sanctions imposed on them after Russia began its invasion of Ukraine, CNBC reported last week.
The bills give the Biden administration the authority to prohibit U.S. crypto exchanges from processing payments from Russia. They would also allow U.S. authorities to sanction foreign exchanges process transactions by sanctioned Russian people or companies. The group is trying to convince lawmakers that cryptocurrency is not being used by wealthy Russians to avoid sanctions.
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They try to regulate what they don't understand. Anyone but the oligarchs themselves will suffer from such measures 😁
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The CEO of Coinbase had a good discussion on crypto regulation on theallinpod. Linking notes!
Lol the law would be used against American working class
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