To avoid the sanctions imposed by Russia after the invasion of Ukraine crypto coins possibility of using it in western countries and in the crypto industry caused concern.
Although some prominent names in the crypto industry say that Russia is not likely to avoid sanctions by using cryptocurrencies. Christine Lagarde, President of the European Central Bank (ECB), He said that some Russian citizens are using cryptocurrencies to evade the imposed sanctions.
Bank for International Settlements (BIS) Innovation Summit program Speaking, Lagarde said that crypto assets are used by western countries to circumvent economic sanctions against Russia.
In the continuation of his speech, the last in stablecoins and cryptocurrencies ruble Pointing to the increase in transactions, ECB President Lagarde used the following statements:
“Cryptocurrencies are strictly used to avoid sanctions.”
Lagarde warned companies in the financial sector “ that everyone who transacts or provides services with cryptocurrencies is complicit in violating sanctions” told.
The possibility of Russia evading sanctions by using cryptocurrencies had prompted the EU. Because the EU had begun to examine whether Russia was using cryptocurrencies to avoid sanctions.