Politics

Not just Russia’s oligarchs taking refuge in Bitcoin

Fearing Russia’s elite will evade financial sanctions by changing their wealth to cryptocurrency, high-profile US Democratic senator Elizabeth Warren has launched a invoice into US Congress to stymie Russian crypto transactions.

Warren warned a Senate committee listening to:

So nobody can argue that Russia can evade all sanctions by shifting all its belongings into crypto. But for Putin’s oligarchs who’re attempting to cover, you already know, a billion or two of their wealth, crypto appears to be like like a fairly good choice.

The invoice doesn’t search to impose a blanket ban on all Russian cryptocurrency transactions.



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