Washington takes aim at Russia's access to digital cash as the U.S. and its allies levy heavy punitive measures against Moscow.
www.cnbc.com
This assesment are more balance on what economic sanction can do to Russia. It's more balance then what mainstream non market oriented media in West put. Market people tend to be more realistic to see the situation.
In short targeting bit coin will not effect much, also targeting online digital currency will be much harder to handle. However in last part on the article, even Western official acknowlede if Russia and China build their own financial system, it will be close to nothing West can do.
Unless West want to sanctions those whose trading with Russia outside Western System. That will increase the level of trade war, and destroy current global trade. Even on current economic sanctions with Russia can potentially hit back West hard (especially Euro zone).
All of this will only creating alternatives system on financial transaction outside Western system. There are countries that trading with West and Non West financial market, which going to see that acceptable. They are going to used SWIFT for dealing with West, and whatever come out from China-Russia on dealing with other market.
Globalisation then in true meaning will be divided at least in to two.
Related to Bit Coin:
The world's largest cryptocurrency exchange has said it won't block all Russian accounts despite the request from Ukraine.
www.tweaktown.com
Crytocurrency market begin to say No toward Ukraine or West demand to isolate Russia. Those Internet Geek build cryptocurrency exchange market to avoid being regulated by Politicians.
That's reality of market. Market wants minimum intervention for regulators, let alone politically driven regulations. That's what even Western market practitioner already warn Western politicians, especially on SWIFT.
Abuse the Market with Political driven regulations, Market will find alternatives.