How big is Russia who use encrypted currency after the international bank blockade?

Overview:

1. After the bank is blocked, the ruble plunates 30%.

2, there is no sufficient encrypted currency liquid for Russia.

3. If this happens, the United States may be forced to press the industry.

Recently, there are many possibilities about “Russia’s rejection of Russia to rejection after the international banking system.” However, the situation may not be the case, but in any case, this may not be a good thing.

Last weekend, the United States and European countries decided to prevent certain Russian banks from using the SWIFT payment system. Since then, the Russian automatic cash machine has risen a long team, and the rubles redeemed by 30%.

Encrypted monetary industry analysts and experts believe that if this is the case, the country can turn to digital assets to avoid bank blocking. However, not everyone agrees that some industry experts believe that Russia will not use encrypted currency soon.

Russia is unlikely to use encrypted currency

On February 28th, Ashesh Birla, General Manager, General Manager, refuted this theory in a pusher, explaining why he believes that Russia will not use encrypted currency to escape the cause.

First, encrypted currency is making it easier to be tracked, so it is not difficult to block Russia’s subsidiary addresses and wallets. On February 27, Ukraine Deputy Prime Minister Mykhailo Fedorov called on major encrypted currency exchanges to start this.

Birla added, “There is no sufficient global liquidity to support Russia’s demand”, which means the country’s foreign exchange market. He added that the entry and exit channel of the French coin is also strictly regulated, which makes it more difficult to convert encrypted currency back to cash.

“Russia conducts nearly $ 50 billion foreign exchange transactions every day. As the largest encrypted currency, Bitcoin’s trading volume is usually between about 200-50 billion US dollars per day. Russia’s demand is more than BTC!”

In essence, the lack of liquidity in the encrypted currency market is the main obstacle to Russia’s payment. President Putin is also probably prepared for this, and cooperates with other countries to promote capital transfer.

“Russia has sufficient time preparation, and has established direct banking relationships in Asia and else to avoid the agency,” he added.

Situation

Industrial analyst Alex Kr¨¹ger commented that if Russia adopts encrypted currency, this will be “terrible bear market”, one of the main reasons:

“For national security, the US regulatory agency will be forced to destroy the industry.” However, others believe that if Russia purchases a large number of Bitcoin and encrypted currency in order to avoid sanctions and far from dollar hegemony, it will make the asset category legal change.

Encrypted currency has proven to be a kind of anti-review currency form. According to the block chain analysis company Elliptic data, since the start of the invasion, the Ukrainian government has raised a donation of nearly 19 million US dollars.