Brad Garlinghouse shared: I continue to see asinine arguments from uninformed pundits of how crypto works. I want to reiterate what ashgoblue said yesterday – there are factual reasons why crypto can’t be used on a broad scale for Russia to evade sanctions.

To convert crypto to fiat, exchanges/etc rely on banking partners who could lose their licenses if someone on the OFAC list can slip through. Extremely stringent KYC/AML policies are in place to avoid precisely this.

RippleNet, for example, has always been – and remains today – committed to NOT working with sanctioned banks or countries that are restricted counterparties. Ripple and our customers support and enforce OFAC laws and KYC/AML.

Instead of listening to responsible players who have been clear they will abide by legal sanctions, some pundits and media insist on continuing to paint crypto as the Silk Road – both an exceptionally outdated and tired argument that simply doesn’t hold today. /Rant over.

Community Response:  First, the world needs to block gold, diamonds, cash, etc’ Maybe then come talk about blocking crypto.

I had 8000k of XRP hacked from my trust wallet! Can it be traced?

I’m sorry but why would you want to convert your crypto to fiat. Just keep the crypto and exchange services for crypto it’s the only reason why crypto exists today. Bye-bye fiat money, hello crypto!

The reason crypto exists is that you have the Freedom to Do whatever you want. If it’s to exchange services and pay in crypto then it’s ok. If you want to switch to Fiat, also ok. If you want to burn your coins, ok

A crypto company stating that crypto can’t be used on a broad scale for Russia shows how honest and transparent Ripple is, not a company that spreads unrealistic hype and hope.

The good news is, they didn’t bother to debunk BG123. So he must have been right…

So, many can’t get their heads around the fact that there is a difference between a wallet and complex systems such as Ripple net, nor that the brilliance of & the very reason why Ripple net evades volatility issues, businesses paying for materials & selling products with crypto can’t!

There will always be those who rumor and stir the pot. Facts are facts from the horse’s mouth. (that’s you).

Not to worry bgarlinghouse get it off your chest. This will be one of the last rants you’ll have on this subject… we see the light at the end of the tunnel.

Too many uneducated, immature people in crypto who don’t understand how the grown-up world works. Not everything that happens in the world is because of crypto or is solved by crypto.

They also seemingly do not understand what it means to be a Libertarian.

I saw this coming from a mile away. Especially with Binance.

And, they will continue. Crypto threatens their power and control over the world. They will say anything to keep perpetuating the false narrative.

Crypto is going to give them visibility into every little micropayment. A Trojan horse.

Who cares what people are arguing about? What’s up with the case and the SEC being held accountable?

Unless the BRICS nations make their crypto network and allow trading within the network with Russia … BOOM … sanctions are avoided…

Why is it that it’s always the outdated dinosaurs that rule in this world?

Don’t worry about it Brad, time will prove the truth. Proverbs 26:4 Do not answer the stupid one according to his foolishness.  So, that you do not put yourself on his level.

I have a question. What did criminals utilize to do their business before crypto existed? Are people this stupid? Reminds me of when the traditional telephone companies tried to sell the idea that the internet is evil and web-based communication was evil.

They can still get money in and out via the exchanges and dump it into Tether or whatever else. The problem is that it’s gone on way too long without oversight and now there’s a war and it’s a huge political tool.