Global regulators monitor crypto use in Ukraine war

By Reuters

The global Financial Stability Board is closely scrutinising the use of cryptoassets during the war in Ukraine after concerns they could be used to evade Western sanctions on Russia. The crypto sector is on the defensive amid warnings from U.S. and European lawmakers that digital asset companies are not up to the task of complying with Western financial sanctions imposed on Russia following the country's invasion of Ukraine. Some crypto exchanges have rejected calls to cut off all Russian users, raising concerns that crypto could be used as a way to circumvent sanctions.

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