Russia May Be Storing Cryptocurrency Assets In The UAE

Russia seems to have found new ways to circumvent embargoes on the cryptocurrency market. According to some new information we have received, Russian billionaires in the cryptocurrency market are making demands on the United Arab Emirates to break this embargo.

It turns out that Russian billionaires want to use firms in the United Arab Emirates to invest in real estate, convert their virtual currencies into stable currencies and store them elsewhere. Statements were received from many companies and their employees on the subject.

Crypto firms in the UAE announced that they have received a large number of cryptocurrency exchange requests

A crypto firm from the United Arab Emirates has announced that in the last 10 days, customers who say they are Swiss, they want to liquidate billions of dollars in bitcoin. If each of these requests is made by customers for fear that their assets in Switzerland will be frozen, worth at least $2 billion. The firm explained that they normally encounter such large amounts of requests once a month, but five or six similar requests have been received in the past 2 weeks. Similarly, it was said that it would be sent to a company in Australia. 125,000 bitcoins (worth $6 billion) A request for sale has been made.

Cryptocurrency firm in UAE says Russians bought lots of properties in Dubai, everything, including crypto assets. announced that they had brought them back to their country. However, Russian billionaires seem to have found their way out in the UAE after sanctions on the cryptocurrency market. United Arab Emirates (UAE) in the war between Russia and Ukraine refusal to take sides This confirms that the Russians may or may not want to hide their money there.

While some Western diplomats say they are concerned about the growing number of Russians holding their assets in the UAE, they hope the UAE will take action once it realizes the impact it has on its reputation. Following the events, the United Arab Emirates was designated by the Financial Action Task Force (FATF), a financial crime and money laundering watchdog. ‘grey list’ receipt. The U.S. Department of the Treasury, on the other hand, all companies in the industry to be more careful he called.