Opting for crypto in place of the Ruble is how you become a refugee without leaving Russia.
In response to economic sanctions, Russia banned residents from transferring funds abroad. But this ban isn’t just about sanctions. It’s about allegiance.
In fact, all currency is about allegiance. We see this in the faces, images, and names on our money. And when you look at the real history of money in relation to crypto you see that, fundamentally, it has always been about allegiance to your tribe.
When a country like Russia turns her allegiance against the world, the allegiance of her citizens becomes paramount. So when citizens disobey, they aren’t just looking to escape hyperinflation,
they are looking for financial refuge from a different tribe.
Russia may be able to cut its residents off from the foreign exchange market, but it can’t prevent its dissidents from using crypto.
World leaders are terrified of this. Because it is not only a threat to Russia, it is a threat to institutions controlling the flow of capital. They would much rather Russians flee to the US dollar or any other currency in allegiance with the west. But crypto threatens their power because it represents allegiance to the people. And the people, above Russia, ISIS, and China have always been their greatest fear.
Article from r/Libertarian: For a Free Society