The new crypto sanctions imposed by the European Union are likely to spur the development of the country’s digital asset market, according to a Russian lawmaker. Anatoly Aksakov, who chairs the parliamentary Financial Market Committee, believes Russians will manage to bypass the restrictions. Meanwhile, major exchanges have reportedly informed Russian users that trading continues.
Russians Find Ways to Circumvent Mounting European Crypto Sanctions, Duma Member Insists
This week, the EU adopted its eighth package of penalties against Russia, meant to hit its government, economy, and energy exports in response to the recent escalation of the military conflict in Ukraine and the annexation of Ukrainian territories. Russian access to cryptocurrency, viewed as a tool to circumvent financial restrictions and export wealth, was also targeted.
The Council of the European Union completely banned the provision of crypto wallet, account, and custody services to Russian residents and entities....
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...