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Crypto experts, there is no evidence of major Russia sanctions evasion

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            A panel of cryptocurrency experts told lawmakers that cryptocurrency does not appear to be a successful tool for avoiding sanctions imposed by the United States and its European allies on Russian organisations and individuals, including President Vladimir Putin, following the country’s invasion of Ukraine.

“We have not seen proof of Russia or Putin systematically exploiting cryptocurrency to dodge sanctions”, says Chainalysis Inc. co-founder Jonathan Levin. Following Russia’s invasion of Ukraine, the United States and its European allies slapped sanctions on the nation. Bitcoin, which may be exchanged without the need of a middleman, may make it more difficult for authorities to identify penalty offenders, according to experts.

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