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We Will Ensure Russia Cannot Use Crypto Assets to Evade Sanctions – Regulation Bitcoin News

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The Group of Seven (G7) countries issued a joint statement stating that they “will ensure that the Russian state and elites, proxies and oligarchs cannot leverage digital assets as a means of evading or offsetting the impact of international sanctions.” Meanwhile, the U.S. Treasury Department is “closely monitoring any efforts to circumvent or violate Russia-related sanctions, including through the use of virtual currency.”

G7 Committed to Ensuring Russia Cannot Evade Sanctions Using Crypto

The leaders of the Group of Seven (G7) countries jointly issued a statement Friday regarding further sanctions on Russia. The statement explains that since Russian President Vladimir Putin launched an invasion of Ukraine on Feb. 24, “our countries have imposed expansive, restrictive measures that have severely compromised Russia’s economy and financial system.”

Among the measures the G7 countries have committed to taking further is “maintaining the effectiveness of our restrictive measures, to cracking down on evasion and to closing loopholes.”

The G7 joint statement…

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