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
323
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
According to anonymous sources, Facebook’s parent company will add support for USDT and USDC
May 9, 2025
Market
An on-chain analysis revealed buyer activity minutes before the official launch announcement
May 6, 2025
Incidents
Most validators implemented the necessary changes back in April
May 5, 2025
Politics
The organization highlighted allegations against the creators of the Tornado Cash mixer
Apr 29, 2025
Market
Earlier this month, the company had already invested over $11 million in the asset
Apr 28, 2025
Market
You can get up to six years in prison with a fine of up to 1 million RUB for handing over your cards and digital wallets to fraudsters
Apr 28, 2025