Bitcoin Forum

So, what’s the U.S. doing about it?

Adeyemo’s pushing for action. He’s thrown some ideas at the Senate, aiming to tighten the screws on foreign crypto hotspots that play fast and loose with the rules. The game plan includes new sanctions, modernizing outdated regs, and tackling the tricky issue of offshore crypto platforms.


https://www.msn.com/en-us/money/markets/us-claims-russia-is-using-tether-to-evade-sanctions-uh/ar-BB1lnUkl


I just have a feeling all of these things he wants to impose will just end up making life even more difficult for Americans that want to use tether. Especially if they live outside of the USA.

I'm sure he's happy that Americans can't use crypto exchanges located outside the usa. he'd be happy if they could never even use bitcoin at all.  :o it's people like him that we really have to watch out for because they'll take away all your freedoms without you even knowing what happened.

he's just using this story about russia as a cover so he can take away more freedoms from law abiding citizens, IN MY OPINION.

If we talk about sanctions, it is better to read this article.
The West tried to crush Russia’s economy. Why hasn’t it worked?
https://www.politico.com/news/2024/02/24/russia-economy-west-sanctions-00142713

But the US government is very cunning about Tether. Tether is backed by the US Treasury and the US government can at any time accuse the Tether company of complicity (terrorism, sanctions evasion, tax evasion..) and block their assets. After this, the price of Tether will plummet.
Tether in Russia is used by small and medium-sized businesses, and this is mainly not related to sanctions.

Well that's what the benefit of cryptocurrency in a nutshell! It gives you the power to avoid authoritarian establishments. US tried its best to crush the economy of Russia but that failed! In this new world, one country should not become too powerful so that it can control others. Cryptocurrency is decentralized and can't be controlled by Americans. That's why US is going crazy in imposing rules and regulations around it. But they will eventually fail because they can't control it.

The world order needs rebalancing! Slowly the world will stop caring about what US thinks and does. The power needs to be distributed across the world. US can't act as the father of the world. That's harmful for the world peace.

Tether does not represent a problem for the United States, as the currency is backed by bank accounts within the United States, treasury bills, and assets that the United States can seize or confiscate. The company also cooperates well with the government and they can freeze or delete any amount they want from any wallet.

They will not try to block Tether, otherwise users may move to DAI or just use Monero, making them impossible to track.

DAI only uses EBM compatible ecosystems, but again Circle's company may block USDC to harm DAI. DAI also uses other types of collateral and issues loans to commercial companies, so this system also does not have 100% stability.
Tether in this regard looks more reliable due to the interests of the United States in this project.

Notably, a country's economy is on the rise despite the imposition of US sanctions. However, when the US is unable to justify its actions, it often comes up with excuses. Ukraine is a prime example of a country that has suffered due to US influence. War should not be seen as a solution, but the US seems to benefit from it. Both China and Russia frequently use the yuan as their currency for trade, at the moment the biggest investor in Russia is China. So it is unfair to blame Tether, which is controlled by the US, for any issues.

obviously that's not completely true otherwise this person wouldn't be pushing for more regulations and things.

Adeyemo’s pushing for action. He’s thrown some ideas at the Senate, aiming to tighten the screws on foreign crypto hotspots that play fast and loose with the rules. The game plan includes new sanctions, modernizing outdated regs, and tackling the tricky issue of offshore crypto platforms.


like i said, i think he's a bad man since it seems like he wants to try and control what crypto companies based OUTSIDE OF THE USA do. can you believe that? he'll probably force them to turn over all of their customers' kyc documents among other things. and then start going after individual users of tether based off those records.

i don't know how difficult it is to evade authorities using monero i don't think its as easy as the general public might think it is. people who never used it probably think you can just cash it out and not have to worry about reporting it. not the case. unless you are cashing it out p2p and even then the person you cash it out with, hopefully THEY don't report you. no centralized exchange is going to cash you out of monero without doing kyc i don't think. so that leaves atomic swaps which you still have to cash out the bitcoin somehow. anonymously. with the same set of problems...

Of course they're going to do that, I'm sure that there's other ways that stuff that's supposed to be sanctioned are easily smuggled to Russia, I mean there's a story recently about how there's still products that aren't supposed to be in Russia like Coca Cola and other banned items that are still being sold, they do this thing called importing from other countries that don't have sanctions and there they get those items but it will arrive in Russia at a premium price so it's no surprise that they've been evading the sanctions and that's why Russia still have a really big war funds to continue the invasion of Ukraine. I guess with Tether being used, we probably need to stay away from it as soon as possible, that's what I'm getting from all of this.

You surprise me. It seems to me that you do not understand how the economy works. They tell you on TV about sanctions, but large global corporations don’t care about sanctions, countries, people. It is important for them to make a profit. Coca Cola did not leave Russia, they changed the name and are now sold under the brand "Дoбpый Cola"
https://dobrycola-promo.ru/
It's the same with McDonald's. They also changed their name and are harassing people under a different brand "Bкycнo и тoчкa"
https://vkusnoitochka.ru

If you do not understand global economics and global politics then please do not share your thoughts here. For your reference I am quoting this article which I believe is true.

Can zasad@ confirm what I have quoted as I believe this is what is called American hypocrisy? They are now helpless and they know this is not the place to be that is why they have opened a new war in the Middle East.

Source (https://en.thebell.io/the-bell-weekly-9/#:~:text=Coca%2DCola%20announced%20it%20was,a%20new%20brand%2C%20Dobry%20Cola.)

After what happened with the problem of bank accounts with USDC, which caused its value to fall below $1 for several days, I think that MakerDAO will try to make DAI less susceptible to being affected by what will happen with USDC by diversifying investments, but I agree with you that USA will always want USDT and USDC to be one of most liquidity and use stablecoin.

Unfortunately, this happens in most countries, not just the United States. Most countries impose restrictions on the use of cryptocurrencies under the pretext that they are used for money laundering and terrorist financing.

Although less than 1% of illicit global trade is conducted using cryptocurrency, according to statistics issued by Chainalysis, most countries use this argument regarding the use of cryptocurrencies for money laundering and terrorist financing to prevent their citizens from using them. The United States also uses the argument that Russia uses cryptocurrencies to evade from the ban.

If you write about the news, there is a lot of lies and hypocrisy, but the situation is different. If you look at who owns most of the big companies in Russia, Europe, Ukraine, you will realize that it belongs to corporations like Blackrock and is managed through their funds. They own the news companies too.

What is the point of a large corporation destroying its assets?
I see only one answer to this question. It's a complete cleanup and building a new management system. When the situation in Ukraine is over, you will see that many companies controlled by Blackrock will come there with investments.

My understanding is that legally the US cannot carry out any sanctions against Russia at this time, these two countries have the greatest influence on this earth, the US has accused Russia repeatedly of other things, but Russia is undeterred and continues to carry on as usual, now that the US has claimed Russia uses Tether, it doesn't seem to have a bad impact on Russia.

What can the US do against Russia, if it uses Tether, embargo, inflation, monetary, gas cuts, it's useless nothing the US has done, it's just mere chatter, goat bluffing, Russia is not the middle east, it's a bear country.

Interesting to read: Why America is losing the information war to Russia (https://www.washingtonpost.com/opinions/why-america-is-losing-the-information-war-to-russia/2019/09/03/951f8294-ce8e-11e9-b29b-a528dc82154a_story.html).

Sanctions against Russia revived the Russian economy and caused enormous harm to the economies of neighboring countries that received cheap resources from Russia. And then Russia kept the money received in European and American banks.
Now news about sanctions is no longer so popular, because many European countries have realized that their economies are suffering much more, while Turkey and China are earning good money.

Russia was able to turn these sanctions into an opportunity to build the nation's economy. They were able to encourage the citizens to focus on local goods which reduced the reliance on imported goods. This has helped the country to keep saving their foreign exchanges thereby boosting their economy. Recently IMF predicted that Russia will grow faster than all advanced economies  (https://www.bbc.com/news/business-68823399). It is forecasted that the Russian economy will grow by 3.2% this year,  which is far higher than the economies of the UK, France and Germany.

Things look quite pleasant when you sit in front of the computer and I don't understand the scale of the human sacrifices on the Russian side who are dying to conquer other people's land. Whatever the economic situation is in Russia, it was all paid for with the lives of tens of thousands of people who could be alive today if Russia did not have a madman who considers people expendable.

I personally don't miss anything when it comes to Russia, and I don't think any resident of the EU misses anything either - the EU has become quite self-sufficient when it comes to energy sources or when it comes to food production. What China, Turkey or India are doing only shows that their politicians do not care about what is happening in Ukraine, but these are countries that are more similar in their way of governing to Russia than to any EU member.

---

As for Tether, any of their tokens can be frozen at any time, so if someone in the US has information about problematic transactions related to Russia or any other sanctioned country, why not do something concrete? If the Russians are avoiding sanctions by using stablecoins, then they are certainly not using those that are subject to freezing.

I see that you are a smart person, but why don’t you notice simple things.

https://interactive.aljazeera.com/aje/2024/israel-war-on-gaza-10000-children-killed/
"The Gaza Strip is a graveyard for thousands of children, the United Nations has said.
Since October 7, Israeli attacks have killed at least 10,000 children, according to Palestinian officials. That is one Palestinian child killed every 15 minutes, or about one out of every 100 children in the Gaza Strip."

Look at the full list of names on the website.

Why is the whole of Europe silent about this? They don't care about these people.

You still continue to believe that the president of Russia needs other people's land, even though Russia has a lot of its own land that is not being used.

Do you really think that any of these politicians care about the lives of other people?
Russia is fulfilling a clearly defined task: to destroy the European economy and deprive it of cheap raw materials. If you think a little, you can easily find the beneficiaries of these actions.

This is not surprising, because Russian money will now work for the Russian economy.

I would not agree that the EU does not react to Israel's crimes, which are definitely terrible and reprehensible, but the EU is definitely too weak to oppose it in a much harsher way, given that the US is behind Israel. However, according to official data, the army of the country where you live attacked another independently recognized country and killed more than 10 000 civilians (so far), of which almost 600 were children. There is no justification for that, no matter how much you look for it.


Your president and other Russian politicians clearly say that there are "Russian lands" and that's why they are conquering them - so it's not even something that is a secret in Russia.


Not all politicians are the same, but some are much worse than others. The only thing Russia is getting is the (currently) conquered territories, which according to international law will never legally belong to them. I repeat to you once again that the EU as a whole is not in any danger because it no longer has access to Russian oil and gas or anything else.

Tether, a prominent stablecoin issuer, announced an expansion on April 18, 2024, introducing four new business divisions — Data, Finance, Power, and Education.

This move indicates Tether’s intent to broaden its influence and diversify beyond its core stablecoin operations.

https://beincrypto.com/tether-announces-new-framework/

I'm not sure how this really makes any sense to do that though. i think tether is just trying to smooth over its real business which is the stablecoin. so they can maybe further obfuscate things that are going on with the stablecoin situation. that would make more sense.

Ohh... this is what they want to do. That's appalling, you know. They don't have the right to take anyone's freedom.

How does Europe react to Israel's crimes? Where are the sanctions or freezing of funds?
On the contrary, European military forces are helping Israel,protecting their rear.
At first, Europe fought for freedom from energy dependence on Russia, but now it has gained energy dependence on the United States. Of course, Europe can live without foreign resources, but they will lose large shares in the market and the standard of living there will drop significantly.
It’s very easy to find who benefits from this situation, and then you will find evidence of how these countries did a lot to force Russia to launch a Special Military Operation.