The Russia's central bank wanted cryptocurrencies to be banned in its country but the Russian president, Vladimir Putin said bitcoin mining and other crypto mining will be beneficial for Russia. Some people at that time have been supectimg this could be a move by the Russia's president that he is planning to invade Ukraine which will result to sanctions, thinking cryptocurrencies would be a means to evade sanctions and make it economically less effective.
Ukrainian Vice Prime Minister Mykhailo Fedorov demand crypto exchanges to freeze all Russian accounts so that the sanction can be effective, but most exchanges did not support this. I read few days ago that cryptocurrencies may not help in Russia sanction but FinCEN concluded that Russia can attempt to use cryptocurrencies to evade sanctions.
FinCEN Provides Financial Institutions with Red Flags on Potential Russian Sanctions Evasion Attempts
What is your take? What role can cryptocurrencies play in helping Russia sanctions evasion and to what extent can this be?
Topic: Russia can evade sanction through cryptocurrencies - page 11. (Read 1898 times)
Jump to: