Ukraine to escape the sanctions of the countries of the world to cryptocurrencies started a study in order to prevent Russian politicians who might turn against them.
In his statement today, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov called for Russian and Belarusian politicians to send information about their crypto wallets to them.
“War crimes must be pursued and punished,” Fedorov tweeted. In addition, Fedorov announced that those who provide useful information will be rewarded by the Ukrainian crypto community.
Ukrainian crypto community is ready to provide a generous reward for any information about crypto-wallets of Russian and Belarusian politicians and their surroundings. War crimes must be pursued and punished! To share info please contact in Telegram: https://t.co/XHidwUQ8bE.
— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022
“If Russia is Expelled from the SWIFT System, It May Turn To Cryptocurrency”
Ukrainian lawyer Artem Afian, who Fedorov was tasked with collecting the Russian addresses in question, said the minister’s aim was to “prevent Russian politicians from evading sanctions using cryptocurrencies.”
Afian stated that this situation will gain importance especially if Russia is kicked out of the international banking SWIFT system.
With this call of the Ukrainian minister, a new one was added to the country’s crypto strategy during the occupation.
Ukraine today, bitcoin, Ethereum and USDT He wanted them to be supported. These two developments contain important lessons about the use of cryptocurrencies both to meet people’s needs and to evade the law.
Afian announced via Telegram that Russia-linked wallet addresses can be reported to government enforcement agencies, cryptocurrency exchanges and Chainalysis. With the knowledge of the crypto addresses of Russian politicians, it is thought that cash flows from these addresses can be prevented.
Chainalysis said in a statement on the subject:
“At Chainalysis, we are examining on-chain indicators of whether the Russian authorities are violating sanctions. We will notify our partners in government when we notice activities like this and will share them with the public whenever possible. On-chain transactions in the region seem stable so far.”
*Not investment advice.