As the war in Ukraine is continuing on its sixth day, sanctions imposed on Russia are both widening and deepening. More and more countries and international institutions are implementing sanctions, and the sanctions already in place are getting tougher on the Russian regime.
While sanctions imposed on the infrastructure of traditional finance and payments have put severe pressure on the Russian society, questions have been rising if the Russian regime, but not necessarily its people, can use crypto such as bitcoin (BTC) and ether (ETH) to evade sanctions. Crypto is, after all, permissionless and free to anyone, including dictators, to use.
“Crypto’s use for sanctions evasion are totally unfounded”
According to Jake Chervinsky, Head of Policy at the crypto lobbying organization Blockchain Association and a well known “crypto lawyer”, the answer is no, for a variety of reasons.
In a Twitter thread, Chervinsky explains why he doesn’t believe Russian president Putin, or the nat
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