ANALYSIS – Appeal for donations, circumvention of sanctions, safe haven… The conflict is leading States and civilians to take a fresh look at these assets.
“Cryptoassets are of particular concern to me in the Russian context said European Central Bank President Christine Lagarde last week at a forum on innovation at the Bank for International Settlements. Like her, many financial regulators are concerned that crypto-assets could be used to circumvent Western sanctions against Russia. At the origin of this fear, the high volumes of rubles converted into bitcoins since the end of February. At the end of last week, the Kremlin also mentioned cryptocurrency as a possible new means of payment for Russian gas for its “friendly countries”. A noticeable change in tone, for a regime that has never been favorable to this asset class.
From the start of the conflict, cryptos were invited in a new way into the public debate. After legalizing its use in the country in February, Ukraine became the first state to use it to receive…
This article is for subscribers only. You have 76% left to discover.
Cultivating your freedom is cultivating your curiosity.
Keep reading your article for 1€ the first month
Already subscribed? Login