While Russia is struggling with the economic sanctions applied by the countries after the invasion of Ukraine, Russia has to avoid these sanctions. cryptocurrencies The possibility of using it has been discussed a lot.
Highlighting this issue International Monetary Fund (IMF) In their financial stability report released today, governments cryptocurrencies He also said that he should apply capital controls on
“Even if cryptocurrencies such as Bitcoin are not officially counted as financial assets or currencies, laws and regulations regarding foreign exchange and capital flow management measures should be reviewed and modified if necessary to include crypto assets.”
Acknowledging that it is practical to transfer large amounts of rubles on cryptocurrency exchanges, the IMF stated that those who want to escape economic sanctions are likely to use cryptocurrencies.
IMF, He went on to say that regulators are facing some difficulties in enforcing sanctions and capital flow controls, adding that there is a risk of making cryptocurrency smuggling more widespread.
The IMF is not the only institution that has warned against the possibility of Russia using cryptocurrencies.
before too Christine Lagarde, President of the European Central Bank He said that Russia used cryptocurrencies to circumvent the imposed economic sanctions.
lagarde “Cryptocurrencies are strictly used to avoid sanctions.” he said.