Hear me out, but I think whilst Russians turning to crypto in short term may be good for price and an example of how crypto defies control, long term it strikes me as a very convenient angle for governments to use to heavily regulate crypto.

Now i’m not saying i’m right, but there appears to be overwhelming support for sanctions on Russia. The only people who seem to be cheering for Russia in the west is the right wing, trump and I imagine a handful of republicans who’d prefer Putin over Biden (i’m not american btw, just the impression I get from the news)

So lets imagine Russia evade the impacts of sanctions by using crypto? Surely governments saying “this is why we need regulation” would not be met with too much resistance by people not invested in crypto? (Which is thr majority). Politically it’d not be a difficult move to make.

I’m not really sure what my point is, but I expect to see increasing amounts of “but russia are using crypto” fud.

I guess to put it another way. If We ended up in world where crypto was a major means of trade, we’d not be able to effectively sanction Russia and there would be an increased risk of war and the west would have less means of control. I’m not sure that unless some kind of revolution happens, that will ever be allowed to happen.

Tl:dr I think crypto regs are going to be expedited due to russian use of crypto (whether justified or not)