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MNI BRIEF: Crypto Complicit In Russia Sanctions Dodge: Lagarde

(MNI) London

Russian companies and individuals are using cryptoassets such as Stablecoin to circumvent international sanctions, ECB president Christine Lagarde told a Bank for International Settlements event on digital currencies Tuesday, with the volumes of roubles being converted into cryptocurrencies at its highest level in more than a year.

Companies that facilitate such transactions have been made aware that they are accomplices in avoiding the sanctions, which were put in place in response to Russia’s invasion of Ukraine, she said.

MNI London Bureau | +44 20 3983 7894 |
MNI London Bureau | +44 20 3983 7894 |

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