Ukraine may freeze bank accounts to push war service: Is crypto the answer?
The Ukrainian parliament has passed the first reading of a bill to tighten mobilization rules and force people to war. If approved, these rules will allow the government to freeze bank accounts and people’s assets when caught dodging the draft. Ukraine proposed this draft bill on January 31 due to a plummet in the number of volunteer soldiers. Reuters reported the amended draft bill on the occasion and this most recent update on February 7. Notably, these tighter rules will affect Ukrainians living abroad, preventing them from accessing consular services with outdated military registration. The bill also proposes to lower the compulsory mobilization to 25 years old instead of the current 27. In particular, Ukraine’s unprecedented move to freeze bank accounts and people’s assets shows how governments can use monetary control and centralized finance systems to impose coercive measures against their people. The United States could have helped Ukraine to freeze people’s assets ...