Will Russia Actually Trade Oil For Bitcoin?

It is an extension of the Russian federal governments earlier statement to “hostile countries,” (directed towards a lot of European Union member states) stating that they should pay for their energy with rubles or gold.The U.S. Sanctions Both of these statements from Moscow are part of an action to the Biden administrations White House reality sheet stating that the U.S. will impose sanctions on Russia.(Source)Would Russia Use Bitcoin To Evade Sanctions? The U.S. sanctions lawfully restrict Americans from trading with Russians, but the sanctions can trigger problems for Russian efforts to utilize other forms of cryptocurrency and platforms. What makes this new sanctions initiative tough for the U.S. government is that we are not just dealing with errant Americans and digital possession companies looking to negotiate in bitcoin with Russia. Time will tell whether the U.S. sanctions will work as intended, but, on the Bitcoin side, it does present a problem for the neighborhood since Bitcoiners have actually typically boasted that Bitcoin does not care who you are, as long as you are who you say you are and you do not double-spend your bitcoin.This is a guest post by Stephen Thompson.

It is an extension of the Russian federal governments earlier statement to “hostile nations,” (directed toward the majority of European Union member states) saying that they should pay for their energy with rubles or gold.The U.S. Sanctions Both of these statements from Moscow are part of a response to the Biden administrations White House fact sheet saying that the U.S. will enforce sanctions on Russia. The U.S. sanctions legally limit Americans from trading with Russians, however the sanctions can trigger issues for Russian attempts to use other types of cryptocurrency and platforms. Time will inform whether the U.S. sanctions will work as planned, however, on the Bitcoin side, it does provide an issue for the community due to the fact that Bitcoiners have often boasted that Bitcoin does not care who you are, as long as you are who you state you are and you do not double-spend your bitcoin.This is a visitor post by Stephen Thompson.

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