In times of crisis, there is no good; there’s only a best course of action, given the circumstances. Is crypto good in the context of Russia’s invasion of Ukraine? Is it bad? Neutral? It’s a hard question to answer.
“Capital flight by economically distressed Ukrainians, or even Russians, is a very different thing than the Russian state attempting to launder money or evade sanctions,” said Alex Zerden, a former Treasury Department official under the Obama and Trump administrations.
Coppi, from the Norwegian Refugee Council, warned that people putting their money in crypto may become unsuspecting victims in cyberwarfare, and not only in the Russia-Ukraine conflict. “Most conflicts are going to be more and more about cyberwarfare,” he said. “You risk becoming a target.”
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