The Ukraine war has been making headlines since it started on February 24, 2022.
Even so, there are aspects of the war, and decisions being made at high levels as a result of the war, that haven’t gotten nearly as much attention as they should.
One such aspect is the Biden Administration’s increasing regulation and involvement in the cryptocurrency market.
The Department of Justice now has a taskforce called “KleptoCapture” whose goal it is to “bring any appropriate change against any sanctioned Russian oligarch or entity, and those who would help them to evade economic sanctions.”
While the DOJ hasn’t clarified what it means by “those who would help them”, cryptocurrency exchanges have already begun blocking Russian citizens from accessing their holdings, even though the overwhelming majority of Russians aren’t being sanctioned by the United States and EU.
Those who are familiar with GoFundMe’s alarming attempt to take money donated to Canadian truckers and give it away to far-left organizations should be alarmed at the precedent being set by government interference in what should be a private financial market.
Individuals should be free to use their hard-earned cash as they please, as long as they are not procuring illegal products or investing in illegal activities such as drug dealing and human trafficking.
Cryptocurrencies were designed to be independent of government interference, and there are private companies that can successfully target those who use the platform for illegal purposes.
Unfortunately, Democrats have never been pleased about the prospect of a successful, independent financial market they can’t control, and President Biden is using the Ukraine war as an excuse to bring the market under his control.
The President has signed an executive order directing federal agencies to assess the benefits and risks of cryptocurrencies, and now the Securities and Exchange Commission (SEC) has announced new crypto-related regulations.
These are supposedly being put in place to “protect investors” and the mainstream news media is trying to pitch the new regulations in the best possible light, but the fact remains that government regulations and involvement will almost certainly censor individuals who would use the platform to conduct financial transactions the United States government doesn’t like.
Governments have long used war as a pretext to gain greater control over local populations.
Ukrainian President Volodymyr Zelensky, for instance, has used it to force men into the military, ban independent news outlets, and squash oppositions parties in his home country.
In the United States, the effort being made to silence opposition isn’t quite as blatant, but it’s still there.
Censorship has risen to new levels as the mainstream media begs the Biden Administration to get directly involved in the Ukraine conflict without considering the consequences, while at the same time viciously attacking and silencing anyone who dares to explain that starting a war with a nation that has more nuclear weapons and more advanced armaments than the United States does is not a good idea.
Now, it appears, the government has turned to the cryptocurrency market in an effort to use the war to insert itself into private transactions, and one can be sure the effort won’t end even when (or if) the Ukraine war ends.
Once again, the mainstream media is cheering the move knowing full well that it sets a precedent that can be used to target “dissenters” in the United States and abroad.
Sadly, it appears government interference in private financial markets is here to stay and will almost certainly be used against anyone who dares to use their money for purchases that aren’t in alliance with liberal talking points.