This War: A Big win for Crypto and A Huge Loss for both Russia and Ukraine

I have been following news updates on the Russian and Ukrainian War, honestly, I must say it is a big win-win situation for crypto (Bitcoin) and it is a huge lose-lose situation for both Russia and Ukraine, War is not cheap, it cost a lot to buy arms and weapons. Which I think the Money been spent on the war could be used to do something for their citizens, in my opinion.

Edited with Canva

So here is the reason behind why I said it is a win-win for crypto and a lose-lose for both parties involved, almost all the transactions that have been made so far are been made through crypto, Ukraine has been asking for donations through Bitcoin and Ethereum to support their military personnel in this war, the crypto community has donated over $675,000 worth of Bitcoin and over $4 million in crypto generally to help the Ukrainian military financing the purchase of armaments and medical supplies.

That's a lot of money flowing in and through crypto, while banks and fiat money on the other are being shut down, I will get to this soon. The lose-lose situation is that the poor innocent citizens are losing their lives and loved ones on both sides of the country, their citizens are scared to rest or put their hands down to sleep because they don't know what will happen next.

Source

Currently, Ukrainian citizens are being cut off from their banking system, credit cards are not working, they’re at risk of losing everything, also European Commission, France, Germany, Italy, UK, Canada, U.S. announce that Russian banks are being cut off from SWIFT, which is going to render Russian citizens bank accounts useless.

According to a Tweet news report:

A transatlantic task force that will target wealthy Russians' assets abroad. "We will take their yachts, their luxury apartments, their money and their ability to send their kids to fancy colleges in the west," a U.S. official said.

and

The task force will be launched this week From joint statement: "We are committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers..."

I get that what the European Commission and the United States are doing is a way to try a force Russian President Vladimir Putin to put an end to this WAR. But there is an Honest question I got from a Twitter post:

Under international law, is there any legal rationale for one country seizing the personal assets of citizens from another country without any specific evidence of criminal wrong-doing or judicial due process?

Or do we not care about that stuff anymore?

The longer this war continues, the longer the citizens of both countries Russia and Ukraine including citizens of other countries who live in both Russia and Ukraine keep suffering, I pray Putin has a change of heart and ends this War.

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