Is it surprising that an autocracy has a hot and cold approach to crypto, a suite of technologies that function to undercut middlemen and despots? Putin has imposed internal capital controls to backstop a weakened ruble, in part influencing his decision to ban crypto. At the same time, he’s looked to crypto in his attempts to project power overseas. Crypto, being ungovernable, is a double-edged sword for the country.

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Author: Daniel Kuhn

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