Reuters: Russians are massively selling cryptocurrency in the UAE
Some Russian investors have started buying real estate in the Emirates for digital assets

13.03.2022 - 07:30
95
1 min
0
What’s new? Cryptocurrency companies in the United Arab Emirates have seen a large number of requests from Russians. The director of an unnamed crypto firm in Dubai told Reuters that they have received several requests from Swiss brokers to liquidate digital assets in recent days. The clients of these brokers are concerned that their accounts may be blocked and are asking for their digital assets to be converted to fiat currency.
What else is known about this situation? Reuters’s source claims that all requests for the sale of cryptocurrency come for at least $2 billion.
“We’ve had like five or six in the past two weeks. None of them have come off yet, but we’ve never had this much interest. We have one guy, who came through a broker and requested to sell 125 000 BTC. He wants to sell the coins and transfer the funds to Australia.”
It has also come to light that Russian investors have started using cryptocurrency to buy real estate in the Emirates.
The other day, the European Union included cryptocurrencies in a new package of sanctions against Russia. Some centralized exchanges have imposed a number of restrictions on users from Russia. Coinbase has blocked some 25 000 users believed by the platform to be linked to illegal activities.
Useful material?
Market
Analysts see this as a sign of a future bull market
May 26, 2023
Technologies
#USD is issued based on the Ordinals protocol and is backed by US dollars
May 26, 2023
Market
The platforms currently support operations with a limited number of digital assets
May 26, 2023
Market
The company’s CEO said that hardware wallet makers “should, at no stage, make the seed phrase accessible to anyone but the user”
May 26, 2023
Incidents
In this, he had already remitted the entire amount of bail to the court of first instance
May 25, 2023
Trends
The current rate is 3,36% per annum, and the loan-to-value varies from 40% to 60%
May 25, 2023