Russia Can T Use Cryptos On A Broad Scale To Evade Sanctions
Despite the fact that Ukraine has raised more than $50 million in its war against Russia through over 89,000 cryptoasset donations, according to data from blockchain analysis provider Elliptic, there are concerns about Russia’s possible use of cryptos to evade economic sanctions imposed by the West. However, crypto experts claim that evading sanctions through cryptos would be difficult for Russia, which has a $1.4 trillion banking sector. In response to similar concerns about crypto being used by Russia to avoid sanctions, Ripple’s CEO and Co-founder Brad Garlinghouse stated that there are factual reasons why this will not happen on a large scale....