Thread by @esatoshiclub

1/14 The new package of sanctions against Russia is confirmed!

What sanctions are directly attacking #cryptocurrency and #digitalassets in Russia?

Were the previous packages so #crypto-focused?

Let's find all the answers right now!
A thread by @esatoshiclub! 🧵

2/14 Since the beginning of the #UkraineRussiaWar, Russia has been attacked with multiple sanctions packages from all around the world.

Although they didn't directly attack #cryptocurency and other digital assets, they did make some damage to the Russian #web3 community.

3/14 Here's a direct quote from the original EU package of sanctions from 23rd February 2022.

This happened right after the #Putin regime declared the recognition of the non-government-controlled areas of the Donetsk and Luhansk areas.

4/14 "It shall be prohibited to sell, supply, transfer, or export goods or technology by nationals of Member States ... to any natural or legal person, entity or body in the non-government controlled areas ... in any of the following sectors:

=>telecommunications

=>energy..."

5/14 What's the catch you might ask? The thing is, without all the needed advanced pieces of technology, the #mining industry in Russia is dead.

Also, don't forget that, besides #EuropeanUnion, the US and other 100+ countries did exactly the same. No high-tech for them!

6/14 Furthermore, if we are to dig deeper into the packages of sanctions, we'll see how the #UnitedStates and the #EuropeanUnion banned the supply of goods used to get energy.

Assuming they're not talking about @redbull, there'll soon be no power to get all that mining going.

7/14 As you can already understand, there'll be no #BTC to mine in the Russian Federation in case this war will go for more than 3+ years.

They'll just run out of spare parts and the shadow market won't get all parts this huge country needs to get electricity. Thus, no mining.

8/14 Getting to the sweetest spot, we have trading sanctions. Here, the West is against Russia again.

To simplify it, imagine you want to get some #ETH from a Russian #cryptoinvestor. Since 24th February 2022, such transactions that get over $10k worth of #crypto, are banned.

9/14 This figure is now reduced to zero. F***ing zero guys! No #crypto transactions, no exchanges, nothing at all. Maybe the crypto dudes will start a rebellion against Putin that Russia so desperately needs…

10/14 Lastly, let's get into some entities banned on US and EU soil.

First in our queue is Garantex, the biggest Russian #cryptoexchange. Yeah, as you can guess, it is banned from all the contact with US or EU. Thus, the newborn crypto exchange is slowly dying.

11/14 BitRiver is another entity that got, alongside with other 10 subsidiaries, under the wroth of US sanctions.

BitRiver is the largest mining farm in Russia that is mainly mining #Bitcoin.

12/14 Finally, you might understand that #cryptocurrency is a #Decentralized asset and, even in such cases, it is very hard to get it under sanctions.

However, the #US and the #EuropeanUnion have confirmed the fact that crypto falls under the notion of "transferable assets".

13/14 Thus, all packages of sanctions have been targeting financial means including digital assets.

This situation is a jam for the #cryptocommunity. Total decentralization & freedom vs. Holding a regime accountable for mass murder and war crimes. What’s more important???

14/14 Hope you liked this thread and, if you did, help us out here, leave a comment with your thoughts on this situation. Don't forget to subscribe to get all the #cryptonews first.
Also, RT the first tweet of this #RussiaSanctions crypto thread. Cheers!

https://twitter.com/esatoshiclub/status/1578052091225944064