Ukraine has harvested Bitcoin addresses linked to Russian officials in a quest to identify and ban them. Head of Bitcoin relations in Ukraine, Mykhailo Fedorov, requested the blacklist on behalf of the Ukrainian government.
“Our idea was that the war criminals will try to avoid sanctions through Bitcoin, and we want to get them there,” private attorney, Artem Afian, revealed to Coin Desk.
Afian has been involved in all aspects of Bitcoin within Ukraine and was a part of the governing body that drafted laws in respects to Bitcoin and virtual assets in Ukraine.
Afian has an interesting view of Bitcoin, despite his ”familiarity” with the technology.
“The purpose of the blacklist is to help all Bitcoin exchanges in the world tag these politicians, their families, partners, children, and to stop working with the politicians to squeeze them out of the Bitcoin world,” Afian said.
Ukraine seeks to block users from Russia the ability to create or use accounts in order to ensure the sanctions are enforceable.
While Afian may have a noble intent in his own mind, leaders from two major leading exchanges, Binance and Kraken, have gone against the government incursion and order to freeze user accounts.
Governments seek to regulate more than they understand, and it is clear here that there is a deep lack of understanding of Bitcoin from these regulators, and their attempts to silence of stifle Bitcoin will only advertise its utility and use case, making it stronger.
- Users can create an unlimited quantity of addresses.
- More users will move to buy no KYC Bitcoin.
- Users will gain more knowledge and use Bitcoin privacy best practices.
- Promotes cold storage and run on exchanges.
- Bitcoin is open source software.
- Code is speech.
Bitcoin knows no boundaries, has no political allegiance, it can’t be controlled, and cannot be stopped. It is inevitable.