Bitcoin and other decentralized networks don’t care about national allegiance; they only care about math. And, regardless of the colors on the flag-waving above your head, when you’re trying to get your savings out of an ATM or send a payment to relatives in a war-torn environment, someone else’s politics is the last thing you want getting in the way of you and your loved ones’ well-being.

Sanctions at Cost of Humanity

In war, there are no winners. So instead, bankers and politicians start them, and ordinary people like you and me are told to suffer, fight, kill one another, and die.

Consider the following scenario: You are a Russian citizen. Your money’s value, the ruble, is plummeting. Long lines are forming in front of ATMs and banks, and there is confusion at public transportation hubs as major corporations such as Google and Apple limit services while major banks are cut off from the SWIFT payments network.

Despite the fact that you are completely opposed to war and even have relatives in Ukraine, many media reports portray you as their sworn enemy. Top-ranking government officials are pressuring institutions you trust, such as forward-thinking cryptocurrency exchanges, to “sabotage ordinary users.” Sanctions are, by their very nature, punitive.

Fortunately, decentralized crypto is still an option for moving and preserving value. Take a look at all the peace-honking that occurred in Ottawa, Canada. In Ukraine, relatives seek refuge in the midst of a conflict, aided by crypto donations that aren’t constrained by politicians’ arbitrary borders. The government is inquiring. Cryptography is merely a tool. Anyone can use it.

You can keep control of your money regardless of what the major news outlets are shouting about or which side is viewed as right or wrong.

Individuals are turning to cryptocurrency in sanctioned areas all over the world.

The repercussions of the new wave of so-called Western sanctions against Russian citizens are already being anticipated. As Bitcoin.com news reported just this week, some Venezuelan economists are already predicting trouble for the country’s banking system (and, by extension, its people), as major Russian banks have been barred from using SWIFT. For example, Jose Guerra, a Venezuelan economist, explained on Twitter:

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Countries with significant financial ties to Russia

Trade restrictions will almost certainly affect any country.

Moving up to Cuba, where residents have had to contend with US trade embargoes for decades, one can see the impact of trade restrictions. As a result, crypto has historically been a useful tool in this area.

The “roll-out of mobile internet nearly a year ago has opened the way for cryptocurrency transactions, and enthusiasts have multiplied as the currency helps overcome obstacles created by US sanctions on Cuba,” according to a Reuters report from 2019.

According to the report, a small business owner was able to buy parts for his mobile phone repair shop online with crypto, which was unavailable in the local economy. In the same article, computer scientist Adrian C. Leon emphasized:

Cryptocurrencies are just another option for foreigners, but they are necessary for Cubans and could be a solution to their exclusion from the global financial community.

Iran has also become a hot topic when it comes to the heated debate over sanctions and cryptocurrency. According to a report published in 2021 by the Iranian think tank Presidential Center for Strategic Studies, newly-minted bitcoins could be used for trade beyond geopolitical boundaries. The following information was included in the report:

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“Despite the pressure of sanctions on the country, domestic economic actors can use newly-extracted cryptocurrencies, which are preferable to existing bitcoins, on international exchanges because newly-extracted bitcoins are not easily traceable.”

The number of draconian calls to stifle crypto freedom is on the rise.

Of course, countries typically portrayed as terroristic in Western media are seen as a major problem when they use cryptocurrencies to avoid sanctions.

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“You have to regulate them or outlaw them.” In an Express interview from May 2021, Informed Choice chartered financial planner Martin Bamford said about potential cryptocurrency tax havens, “I don’t think there is a middle ground.” “The most effective way of doing it would be a global crypto currency tax or a global crypto currency regulation ban,” he added, “but only if you can get all the countries on board.”

“Russia, China, or Iran,” Bamford said when asked which governments might refuse to cooperate.

Bamford’s prescription appears to be solidifying and gaining traction (no pun). Debbie Toennies, managing director and head of Regulatory Affairs at global investment bank JPMorgan, recently stated: “I do believe we need a globally consistent regulatory framework.” We must find a solution as soon as possible.”

Christine Lagarde, the head of the European Central Bank, and Binance, a leading centralized cryptocurrency exchange, are two other notable voices calling for global regulation. Lagarde, for her part, reverted to the tired trope of crypto as criminal money, saying:

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“It’s a highly speculative asset that’s been involved in some amusing and completely reprehensible money laundering activity.”

Of course, statistics have refuted these claims numerous times, with fiat financing of illegal activity vastly outnumbering Satoshi’s alleged contribution to crime. And, all too often, corrupt legislators, rather than any logical or ethical compass, define this crime.

When we’re dealing with people who proudly declare that starving 500,000 children to death for the sake of sanctions is “worth it,” we’d be wise to take a step back and reconsider.

As Satoshi put it, “For the Sake of Humanity.”

Friedrich Nietzsche, a German philosopher, famously said of governments:

The coldest of all cold monsters is described as a state. It also lies coldly, and this is the lie that comes out of its mouth: ‘I, the state, am the people.’ It’s a fabrication! Creators made people and imbued them with faith and love, thus serving life. They call themselves destroyers because they set traps for many people and call it the state: they hang a sword and a hundred cravings over them.

Take a look at the SEC’s sword and snares. Take a look at the IRS. Take a look at the world’s central banks, as well as the governments and money they control. These aren’t the people Nietzsche is talking about when he says “creators.” Instead, these creators are the dreamers, innovators, and coders who create protocols and codes that allow for free global trade regardless of political affiliation.

Suppose regulators’ goal is truly “financial inclusion” and promoting innovation while protecting investors. Why are they so desperate to strangle the one promising economic lifeline that the world’s poor and struggling have right now? I believe we are all aware of the answer.

Cryptography relies on math rather than scare tactics. It’s a neutral tool in the same way as any other tool. It can be used for good and bad purposes. Without state laws or violence-backed decrees, communities can choose how they want to leverage and regulate these technologies.

Kraken CEO Jesse Powell Words

Focusing on individual needs rather than government or political factions better serves our mission. The People’s Money is a human exit strategy, a weapon for peace rather than war.

Please donate to those who are in need. In Russia and Ukraine, to be precise. Anywhere. Even if someone who is politically inept tells you not to. Except for shutting down the internet or violently wresting your keys from your possession, no one can stop the movement of peer-to-peer electronic cash. And, at that point, we’ll have to address some of the room’s most fundamental elephants.