SegWitCoin (BTC) developers, as Dr. Craig Wright has so often reminded the world, have kept BTC as anonymous and regulation adverse as possible to continue leveraging the more criminal elements of the world. Russian weapons manufacturers are proving this to be true, as Russian weapons manufacturers are now proposing using BTC to circumvent American sanctions.
As reported by Finanz.ru, Soyuzmash, also known as the Union of Machine Builders in Russia, sent their vice president, Valdimir Gutenev, to the Central Bank of Russia to specifically ask to use BTC as a currency to sell their weapons. The industry is struggling, he said, because sanctions are preventing deals from being completed.
While the central bank has previously taken a hard stance against BTC, favoring instead as state backed currency and also because it perceives BTC as a threat to state control, this time it’s also getting pressure from the Duma’s defense commission as well, who would really like weapon sales to help prop the economy back up. It’s much more likely they’d find customers internationally holding BTC than some kind of crypto-ruble.
But why do they think BTC is the way to go? Specifically because they perceive it as an anonymous currency, just the way SegWitCoin developers hope they would. The defense commission was quoted as saying, “anonymous transactions are one of the possible ways to solving existing problems.”
While Gutenev also admitted that he’d be happy to try a state currency, BTC seems like the more likely option for international trade. Russia is the second biggest weapons exporter in the world, representing 21% of the market, and $14 billion in trade in 2012.
What they likely fail to realize is that the promises of anonymity that BTC offers are very false. It’s still a blockchain, and those who enforce U.S. sanctions will figure out their tricks fast enough. If anything, it will give governments opposed to Russia’s plans even more reason to crack down on BTC with heavier regulations.
While Russia continues to struggle with how to handle cryptocurrency regulations, countries like the U.S. have made it clear that they only want to work with projects that adhere to regulations. Bitcoin SV (BSV) is the best example of such a project, and the only one that wants to work with global governments while providing real, legal utility.
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