Washington Post: “Both sides have embraced cryptocurrency. But its wartime utility is unclear…There is the $400,000 in cryptocurrency donations raised by a Kyiv IT professional to support the Ukrainian army. There are calls from Western cryptocurrency activists to mobilize on behalf of the Ukrainian people. And there are fears that Russia could use cryptocurrency to avoid the effects of Western sanctions. As Russian President Vladimir Putin’s forces mount an invasion against Ukraine, two economies that have led the way in embracing the new form of digital money are each turning to it to gain an edge in the geopolitical showdown. The first major conflict of the crypto era also means that, for the first time ever, a tool that can move billions of dollars easily across borders is available to be marshaled by both sides.

Because there is no central controller who can impose their morals on its user, crypto can be used to crowdfund for the Ukrainian army or help Russia evade sanctions,” said Tom Robinson, chief scientist and co-founder at the crypto analytics firm Elliptic. “No one can really prevent it from being used in either way.”…