Economist: If Russia uses digital currencies to circumvent sanctions, prices will fall



Alex Krueger, an economist and digital currency market activist, said that if Russia wants to use digital currencies to circumvent sanctions, the price of those assets will fall sharply. In such a situation, he says, US lawmakers will try to limit digital currencies as much as possible.

According to the Daily Hoodel, Krueger warned that Russia’s move to digital currencies to circumvent sanctions could have a negative impact on all digital assets.

Addressing his 123,700 followers on Twitter on February 25, Krueger said the use of digital currency to circumvent sanctions would be met with a strong response from US regulators.

He added:

Russia’s use of digital currencies to circumvent sanctions will lead to a terrible decline. Don’t wait for this to happen, but still watch the market. [با این اتفاق] US regulators will be pressured to corrupt the industry as a destructive problem for national security.

The United States, along with its allies and partners, has imposed various sanctions on the Kremlin since Russia’s invasion of Ukraine. The sanctions include severing ties between major Russian financial institutions and the US financial system and SWIFT.

According to the leading economist and trader, the price of digital currencies and other assets such as stocks and commodity exchanges has now reached low levels since the Russia-Ukraine conflict.

Krueger says:

Digital stocks and currencies have reached the lowest levels and precious metals (such as gold). This can be understood from the market flow.

However, Krueger said that although the prices of digital currencies and other assets have fallen, the situation will only get worse if the conflict leads to the use of nuclear weapons.

Krueger continued:

Factors such as the Chinese invasion of Taiwan, Russia’s invasion of more countries (except Ukraine) and the use of nuclear weapons can make matters worse. In addition to these opportunities, the market has already accepted the worst case scenario and then abandoned it. Market collapse can occur in any military conflict. However, the recent downturn could have been different, because such a war is bigger than any other conflict in decades, but the financial markets do not reflect this.

The post Economist: If Russia uses digital currencies to circumvent sanctions, prices will fall, appeared first on the digital currency.

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