Crypto is a “threat” to economic sanctions, said the ECB President, despite the daily volume of crypto trading in rubles falling back to levels seen prior to sanctions being imposed.
The President of the European Central Bank, Christine Lagarde has reiterated warnings that Russian individuals and businesses are using cryptocurrencies to skirt sanctions.
This amount represents a tiny slither of the total global crypto market volume, with Bitcoin’s total daily volume generally fluctuating between $20 billion and $40 billion.crypto skeptic Lagarde did not point the finger at the Russian government and outlined that it was primarily Russian individuals and businesses turning to cryptocurrencies. However she said that cryptocurrencies “are certainly being used as a way to try to circumvent the sanctions.”
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