Although Russia has faced a lot of sanctions since its invasion of Ukraine, it has not yet been completely cornered. Especially after Russia was completely removed from the SWIFT system, the eyes were turned to crypto money sanctions.
US Might Increase Sanctions Against Russia
Russia Although it has been subject to many sanctions, a full crypto-focused sanction has not yet been implemented. Many prominent figures claim that Russia can circumvent these sanctions using cryptocurrencies, but there is no evidence of this. Leading cryptocurrency exchanges have also so far rejected the decision to impose restrictions on all Russian citizens. However, such a decision by the government could change everything.
Meanwhile, White House CNBC correspondent Kayla Tausche shared an information she received from the US Treasury Department officials.
According to the reporter’s share, citing Wally Adeyemo, assistant secretary of the US Treasury Department, the full-scale trade embargo against Russia in the USA, the barrier to access to international waters, restrictions on nickel, uranium and titanium, and Russian institutions to crypto assets Access block option is still on the table.
In an exclusive interview this morning, @TreasuryDepSec told me these actions — a full trade embargo, and blocking Russia’s access to international waterways — are still on the table, as are prohibitions on nickel/uranium/titanium and Russian entities’ crypto assets. https://t.co/odiCcIyYmw
— Kayla Tausche (@kaylatausche) March 14, 2022
In particular, Russia’s continued occupation against all sanctions may lead to these decisions being taken. A possible obstacle and sanction on the crypto money industry will make the situation for Russian citizens an inextricable situation.
The extent of the sanctions and how they will apply to cryptoassets remains unclear for now.
“The deputy secretary of the U.S. Department of the Treasury said that a number of bans against Russia, including crypto assets, are still on the table.” – White House CNBC Correspondent#Bitcoin #cryptocurrency
— Bitcoin System (@bitcoinsystem) March 14, 2022