As reported by Decrypt, the European Union should prevent the Russia evade economic sanctions through the use of cryptocurrenciesaccording to the finance minister of FranceBruno Le Maire.
“We are taking action, especially on cryptocurrencies or crypto assetswhich should not be used to circumvent financial sanctions decided by 27 countries of the European Union”, said, supposedly, Le Maire, yesterday (2).
According to Decrypt, this is not the first time that the possibility of evading sanctions by Russia through cryptocurrencies has been mentioned. This week, the deputy prime minister of UkraineMykhailo Fedorov, asked the crypto exchanges to block the access of Russian users to the platforms.
Crypto, Russia and Sanctions
At the moment, there is a kind of fear about the use of cryptocurrencies by Russia, in an attempt to evade the economic sanctions imposed on the country and to Russian billionaires and oligarchs.
This fear is mainly linked to possible ransomware attacks that require cryptocurrencies as payment.
According to the analysis company blockchain Chainalysis, 74% of revenue from ransomware attacks in 2021 came from sources “highly likely” to be affiliated with Russia.
According to Decrypt, the former Federal Bureau of Investigation agent (FBI), Crane Hassold, stated that cryptocurrencies are the “main factor” that drives the scenario of ransomware attacks.
“[As criptomoedas] allow the ransomware payouts we’ve seen so far to reach very high levels,” Hassold said.
Source: Moneytimes
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