Tuesday , November 5 2024
Home / Mike Norman Economics / Asia Unhedged — Introducing the CryptoRuble

Asia Unhedged — Introducing the CryptoRuble

Summary:
Sanctions-buster? The anonymity of a cryptocurrency also provides Russia with a tremendous opportunity to circumvent sanctions. As Handelsblatt reports, the CIA has already expressed suspicion that Russia’s interest in the matter may be related to this. The Director General of the Russian e-money system, Qiwi Sergej Solonin, sees at least the possibility that the CryptoRuble could provide a replacement to the international banking transaction system Swift. The disconnection of Russia from the Swift system has been discussed as a sanctions option in the past. Asia TimesIntroducing the CryptoRuble Asia UnhedgedSee alsoSputnik InternationalRussia Has Enough Potential to Ensure Digital Sovereignty - Prime Minister

Topics:
Mike Norman considers the following as important: , ,

This could be interesting, too:

Matias Vernengo writes The Gift of Sanctions

Peter Dorman writes Monetary Sovereignty, Sanctions and Russian Economic Policy

Chris Blattman writes The invention of sanctions

Frances Coppola writes The “Misérables” of the 21st Century


Sanctions-buster?
The anonymity of a cryptocurrency also provides Russia with a tremendous opportunity to circumvent sanctions. As Handelsblatt reports, the CIA has already expressed suspicion that Russia’s interest in the matter may be related to this. The Director General of the Russian e-money system, Qiwi Sergej Solonin, sees at least the possibility that the CryptoRuble could provide a replacement to the international banking transaction system Swift. The disconnection of Russia from the Swift system has been discussed as a sanctions option in the past.
Asia Times
Introducing the CryptoRuble
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *