Weapons Manufacturers Are Accepting Crypto As Payment

A headline I thought I’d never have to write: Weapons Manufacturers Are Accepting Crypto As Payment.

Covered:

  • Ukraine Buying Weapons With Crypto
  • Manufacturers Accepting Crypto

Ukraine Buying Weapons With Crypto

Around these parts, a.k.a. crypto news, it’s custom to mention any time a business starts accepting cryptocurrency for payment. It’s generally a really seen as a positive thing — despite the fact that using crypto means selling it and bringing the price down — because people in crypto want to be loved just like everybody else does.

This latest bit of “mainstream adoption” news though, isn’t the sort of thing you tell your nocoiner friends as an example of why you’re still HODL’ing — though mentioning Shiba Inu probably doesn’t help your cause either. 

According to a report, the Deputy Minister of Digital Transformation of Ukraine on IT industry development, Alex Bornyakov said that out of the $50 million in crypto that the country has received on military supplies 15 million has gone to military supplies like vests, food packages, and night division devices.

Manufacturers Accepting Crypto

There’s no surprise there, seeing as it was intended to be spent on that in the first place. But what was surprising was how many of those unnamed weapons suppliers are willing to accept crypto as payment. According to Bornyakov, 40% of them are. Though, that doesn’t account for how much of the 15 million was transacted with crypto directly.

Of course, there have also been reports that Russia is looking to purchase weapons using crypto, but they are still in the “looking” stage. The Central Bank of Russia doesn’t want to legalize Bitcoin yet, which is making it difficult for the weapons manufacturing industry in Russia to purchase anything with crypto.

Ukraine, of course, made cryptocurrency legal back in September of 2021.

Recommended: Which Country Is The Most Interested In Crypto? SPOILER ALERT: It’s Ukraine

The post Weapons Manufacturers Are Accepting Crypto As Payment appeared first on CryptosRus.

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