REGULATION

Founder of research institution Messari speaks out against the system: "Take money out of exchanges, Bitcoin is for Ukraine and Taiwan."

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Founder of research institution Messari speaks out against the system: "Take money out of exchanges, Bitcoin is for Ukraine and Taiwan."

"Get your assets off centralized exchanges," said Ryan Selkis, founder of research firm Messari, amidst the Ukraine conflict. He believes that U.S. leadership will become irrational during the conflict, and litigating against them will be even longer than the conflict itself. Financial privacy and digital asset ownership rights are now institutional protections, "I will move my crypto assets to cold storage," Ryan Selkis stated. Source.

Potential Intensification of Anti-Money Laundering Measures in Cryptocurrency

Amid the Russia-Ukraine conflict, Ukraine is raising funds through cryptocurrency while Russia faces economic sanctions, making cryptocurrency transactions a probable option. Ryan Selkis expresses concerns regarding centralized exchanges due to illicit financial flows, and Russia's forex sanctions may lead to heightened identity verification measures and travel rules. He predicted on 2/24 that after Russia is expelled from SWIFT, it will legalize Bitcoin, and the US tracking efforts may push for a ban on exchange users transferring funds to unknown wallets.

Currently, major US centralized exchanges and institutions such as Coinbase and Anchorage have formed an alliance to implement the Travel Rule Universal Solution Technology (TRUST), aiming to enhance anti-money laundering measures by sharing user information through decentralized protocol solutions. Additionally, the South Korean exchange Coinone has initiated policies related to the travel rule, where unverified external addresses will be restricted from interacting.

While the impact of anti-money laundering measures in cryptocurrency may be minimal for regular users, it poses increased legal costs and money laundering risk control challenges for centralized exchanges. For decentralized enthusiasts, government and institutional restrictions remain unacceptable.

Ryan Selkis: Bitcoin Belongs to Ukraine and Taiwan

Due to the Russia-Ukraine conflict, Ryan Selkis has once again shared his views on national and governmental control. He stated: "Gold is for Russia and China; Bitcoin is for Ukraine and Taiwan." He clarified that his remarks were not directed at the people but at the nations and governments, emphasizing that cryptocurrency belongs to everyone, but authoritarian governments despise such assets.

Note: Ryan Selkis' claim that authoritarian states dislike cryptocurrency contradicts his assumption that "Russia will legalize Bitcoin."