EU Says Russia, Belarus Sanctions Extend to Crypto

[The_Krakenite]

Crypto assets fall into the category of "transferrable securities" and are therefore clearly included in the scope of sanctions, the EU said.

https://www.coindesk.com/policy/202...eferral&utm_source=rss&utm_campaign=headlines

 

[RedSun]

They will just adopt Chinese global YMB. At the expenses of US Dollar.

Global trades still go on. But Western banks can't see any YMB trades. This will make those trades future sanction proof.

Such a near-sighted move. Big West-East Schism.

 

[The_Krakenite]

Pretty much my beliefs as well. Everything the West does on these 'sanctions' is just turning China into a bigger monster by the hour.

Good job guys!

 

[sebking1986]

How do they plan on monitoring that then I wonder?

 

[ET180]

They will just adopt Chinese global YMB. At the expenses of US Dollar.

Global trades still go on. But Western banks can't see any YMB trades. This will make those trades future sanction proof.

Such a near-sighted move. Big West-East Schism.

Probably true, but west should have decoupled from China long ago. We have allowed ourselves to become weaker for their benefit.

 

[RedSun]

Probably true, but west should have decoupled from China long ago. We have allowed ourselves to become weaker for their benefit.

It is global trade. If US or EU do not trade with China or Russia, other countries will. Look at South Korea, Singapore, even Taiwan trade with China heavily.

If you want to bring back all the textile factories back to Tennessee, our prices for socks and underwear will certainly double. We do not even have the labor to harvest onions in Georgia.