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HomeCryptoU.S. issues warning to crypto, banks helping Russia bypass sanctions

U.S. issues warning to crypto, banks helping Russia bypass sanctions

US Deputy Secretary of Finance Wally Adeyemo spoke at a press conference at the Justice Department in Washington, DC, on Monday, November 8, 2021.

Bloomberg | Bloomberg | Getty Images

The United States will hold all actors in the Kremlin who seek to help Russia avoid economic sanctions. Provocative onslaught on UkraineUS Deputy Secretary of Finance Wally Adeyemo told CNBC on Tuesday.

Since Russia launched its invasion of Ukraine on February 24, the United States and its international allies have imposed a series of disciplinary measures against Russia.

Conflict Catastrophic humanitarian crisis, I sent a shock wave Through the financial markets and left Russia Increasingly isolated On the global stage.

“I’ve never seen Russia able to circumvent our sanctions in a meaningful way, but I know they’re trying and try every possible means. I also know that, “Adeemo told CNBC. Street sign Europe. “

He quoted cryptocurrencies and opaque shell companies as much as possible. This means that Russia could abuse it to circumvent economic sanctions.

“What we want to be very clear to crypto exchanges, financial institutions, individuals and anyone who may be in a position to help Russia take advantage of our sanctions and avoid them: we are responsible for you. I will bear it, “Adeyemo said.

“We will come and find you, and prevent Russia from having the ability to circumvent the sanctions we have implemented in order to make it difficult for Russia to prosecute an illegal war in Ukraine. increase. .”

Cryptographic concerns

His comments come shortly after the G7’s major economies Pledge To prevent Russian states, elites, agents and oligarchs from leveraging digital assets to avoid the effects of international sanctions.

The G-7 Group consists of the United Kingdom, the United States, Canada, Japan, Germany, France and Italy.

Digital currency is proven Helps strengthen Ukraine’s defense, The government is collecting millions of dollars of cryptocurrency donations from the general public. At the same time, regulators are concerned about potential use to circumvent the sanctions imposed on Russia.

People who trade in cryptocurrencies are often kept anonymous and are often the primary target of cybercriminals. However, experts say it is possible to track the movement of funds thanks to the public nature of the blockchain, which is a constant record of all digital currency transactions.

Nevertheless, crypto exchange is under pressure from politicians Including Democratic Senator Elizabeth Warren Introduce stricter checks to ensure that authorized individuals and businesses can prevent their money from being transferred to cryptocurrencies.

-CNBC Ryan Braun Contributed to this report.


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