US Treasury warned crypto exchanges against helping Russia evade sanctions

Deputy US Treasury Secretary has stated that the authorities will figure out all the platforms that help individuals on the sanctions lists

30.03.2022 - 14:25

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What’s new? The United States will hold accountable for any cryptocurrency company that tries to help Russia bypass sanctions. This was stated by Deputy US Treasury Secretary Wally Adeyemo in an interview with CNBC. According to him, so far Russia has not been able to circumvent economic restrictions but is trying to do so. Adeyemo believes that the country will use all possible means to do this.

CNBC’s interview

What does Adeyemo say? He recalled the international group, REPO (Russian Elites, Proxies, and Oligarchs), created to coordinate efforts to control individuals on sanctions lists. The official added:

“What we want to make very clear to crypto exchanges, to financial institutions, to individuals, to anyone who may be in a position to help Russia take advantage and evade our sanctions: We will hold you accountable.”

What had happened before? In early March, the European Union (EU) imposed sanctions that affected the cryptocurrency industry. The EU is concerned that Russia may use digital assets to circumvent sanctions. ECB chief Christine Lagarde noted that measures should be taken to prevent this.

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