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How blockchain intelligence can prevent Russia from evading sanctions

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As pointed out by Caroline Malcolm, head of international policy at Chainalysis, the transparent nature of blockchain technology makes it relatively easy for crypto intelligence companies to track funds related to sanctioned entities.

“We’re in quite a unique position because of the transparency and the permanency and the immutability of that public record,” explained Malcolm in an exclusive Cointelegraph interview. 

Governments around the world have expressed concerns that Russia could use crypto to evade sanctions imposed as a response to its military offensive against Ukraine. 

Addressing those concerns, Malcolm pointed out that in the last few years there has been substantial improvement in the crypto industry’s Anti-Money Laundering and counter-terrorism framework.   

That means that, depending on their jurisdictions, crypto exchanges are still required to enforce the same sanctions as those imposed on banks and other traditional financial intermediaries.  

Even though sanctioned entities could potentially move funds on private wallets, those movements can be easily…

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