During this sad and cruel times of war, cryptos happened to play a crucial role in Ukraine.
This is therefore not surprising that the President of Ukraine, Mr Zelenskii signed a Virtual Asset bill legalizing crypto.
After El Salvador, Lausanne, Miami, and Zug, countries and cities start adopting Bitcoin and cryptos.
With the signing of a new executive order on cryptocurrency on March 9, President Joe Biden officially directed federal agencies to implement a strategy for policies and regulations on digital assets like crypto, according to a White House fact sheet. A move experts described as “extremely positive,” “long overdue,” and an “acknowledgment that cryptocurrency is here to stay.”. More regulation could mean more stability in a notoriously volatile crypto market, solving one of the most important issues cryptos had to cope with over the last decade.
The outstanding performances of business segments such as the Decentralized Finance, the NFTs and the Metaverses are trends confirming the need for crypto adoption.
Last executive order signed by Joe Biden on March
During the early days of the war between Ukraine and Russia, we have seen that banks and governments can freeze assets or shut down accounts, preventing criminals from accessing their funds.
This is a good thing, but these decisions have also prevented many innocent victims from accessing their own money to survive.
On top, millions of dollars were donated to the Ukrainians who could dispose of these funds in a much faster and safer way.
Wars should not take place anymore, and most of us do not want to see the war crimes and terrible war scenes, but this war has first shown than Ukrainians could dispose of funds very quickly.
But can it prevent criminals from using cryptos to do their activities?
And can the traditional banking system have access to the same level of preemptive chirurgical sanction?