Russia has recently taken steps to legitimize cryptocurrencies and the digital assets are already widely used there. At present, it is unclear how Russian crypto holders would go about converting their assets to fiat currency or what efforts to regulate crypto transactions might take place in the wake of the penalties.
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Crypto Could Play a Role for Russia As It Looks to Skirt Sanctions: Experts
Russia and its oligarchs may look to use cryptocurrencies to skirt international economic sanctions imposed in response to the country’s military operations in Ukraine. So reports Bloomberg Wealth.
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