The Russian incursion into Crimea and its involvement with Ukrainian separatists prompted the imposition of an initial set of sanctions. Have they had any impact? The speculation is that Mr. Putin’s decision to stop meddling in Ukraine was prompted by threats of much more robust sanctions — especially in the energy sector. Current sanctions have had some bite as well.
It has been a long and slow wind up. But FACTA as of July 1, 2014, FACTA is now in play. It already has had impact — changing bank procedures. And it will be interesting to see how enforcement changes global money flows — if it does at all. A quick speculation — this will speed up the global adoption of bitcoin
The sudden Gowex meltdown reminds us all again that in the globalized world of business, and perhaps especially tech business lots of crazy things happen.