The Russian attack on Ukraine has quite vaguely, yet a bit evidently demonstrated that the crypto industry will eventually become an integral part of the financial and economic ecosystem in the world.
With BTC investors considering the crypto asset, as a hedge against inflation, the market might witness a massive rise in price and large bets on the cryptocurrency by market value.
Global institutions are quite wary about the role of cryptocurrencies and how they can potentially damage a long-established centralized infrastructure, hence, the EU suggested banning Bitcoin to ultimately suffice the requirements that Russia needs to fulfill against its attacks on Ukraine.
While it has the potential to decentralize and change the traditional economic infrastructure, it also possesses the power to provoke distrust and encourage malicious activities.