Sanctioned Russian oligarch urges central bank to embrace Bitcoin
The U.S. Treasury asked cryptocurrency companies to ensure compliance with sanctions last week. Russian oligarch Oleg Deripaska has once again called on the Russian government to stop ignoring Bitcoin (BTC) after the United States Federal Bureau of Investigation raided his homes in Washington and New York.In a Telegram post on Thursday, Deripaska argued that the Bank of Russia has been “infantile in ignoring the growing cryptocurrency market,” while the U.S. Department of the Treasury has been “investing particularly in this direction.”The billionaire emphasized that cryptocurrencies like....
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Cryptocurrencies, including CBDC’s, have now become a part of the narrative on sanctions due to high adoption. The use of cryptocurrencies to evade international sanctions from various international governmental organizations like the United Nations (UN), the International Monetary Fund (IMF) and the World Bank, among others, has been a concern for regulators ever since the creation of cryptocurrencies.The rapidly increasing adoption of digital currencies in the last two years makes this discussion more important than ever, especially with the advent of central bank digital currencies....