Crypto could bypass President Biden's 'devastating' sanctions on Russian bank...
“If a wealthy individual is concerned that their accounts may be frozen due to sanctions, they can simply hold their wealth in Bitcoin," said Mati Greenspan. The sanctions announced by United States President Joe Biden in response to Russia’s attack on Ukraine did not include cutting the country off from payments on the SWIFT system or cryptocurrency transfers.In a Thursday announcement from the White House, Biden said the U.S. and its allies and partners would be enforcing sanctions aimed at imposing “devastating costs” on Russia due to “Putin’s war of choice against Ukraine.” The U.S.....
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The European Central Bank (ECB) warns cryptocurrencies are being used to evade sanctions by Russians. ECB President Christine Lagarde warns crypto firms against becoming “accomplices” in the crime.
ECB President Lagarde Is Certain About Crypto Being Used to Evade Russian Sanctions
Christine Lagarde, president of the European Central Bank (ECB), said Tuesday at the Bank for International Settlements (BIS) Innovation Summit that cryptocurrencies are “certainly” being used by Russian firms and individuals to bypass sanctions. A growing number of....
EU is working to ensure that digital assets should not bypass sanctions imposed by the alliance opposing Russia, Brune Le Maire, prime minister of France, told on Wednesday, March 02, 2022. An alliance of twenty-seven countries imposed strict sanctions on Russia because it attacked Ukraine. The sanctions comprise freezing assets owned by the Central Bank […]
The United States is making sure that Russian sanctions remain tightly in place and prevent Russia from taking any refuge from cryptocurrencies and use these to advance its goals. According to people with firsthand knowledge of the situation, the Biden administration is asking cryptocurrency exchanges in ensuring that Russian individuals and organizations do not get […]
Blockchain Association's Jake Chervinsky believes politicians should not be worried that Russia may use crypto to get around economic sanctions because it is not feasible at the scale required. Experts on crypto policy argue that concerns expressed by high profile politicians about Russia evading economic sanctions using cryptocurrency are “totally unfounded.”They say the crypto market is not nearly large enough nor deep enough to support the volume that Russia needs and that the country’s digital asset infrastructure is minimal. Former U.S. Secretary of State Hillary Clinton and the....
The new crypto sanctions imposed by the European Union are likely to spur the development of the country’s digital asset market, according to a Russian lawmaker. Anatoly Aksakov, who chairs the parliamentary Financial Market Committee, believes Russians will manage to bypass the restrictions. Meanwhile, major exchanges have reportedly informed Russian users that trading continues.
Russians Find Ways to Circumvent Mounting European Crypto Sanctions, Duma Member Insists
This week, the EU adopted its eighth package of penalties against Russia, meant to hit its government,....