Technology

Crypto and Russia-Ukraine War: What Investors Should Know

Cryptocurrency has been thrust into the spotlight during the Russian invasion of Ukraine. Cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) have been playing an unprecedented role in the war effort in both countries. As millions of Ukrainians flee their homes and even their country, they face a cap on cash withdrawals from banks, leaving cryptocurrency as a refuge for getting fast access to money. Meanwhile, global sanctions have compelled Russia to consider accepting cryptocurrency in exchange for energy exports. The decentralized crypto ecosystem has given both countries a flexible alternative for survival, while allowing people around the world to stay financially connected in times of crisis. These forces have further accelerated the adoption of crypto. However, reliance on cryptocurrency has its own set of challenges.

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