Russian officials and oligarchs are believed to be using cryptocurrencies to protect their fortunes amid concerns that the Kremlin will try to use virtual currencies such as bitcoin to bypass sanctions
Elliptic, a crypto-forensics firm, said that it had uncovered a digital wallet holding millions of pounds linked toThe London-based company also said that it had discovered more than 15 million cryptocurrency addresses linked to criminal activity tied to Russia. Mainstream crypto exchanges have said they will abide by sanctions but have rejected Ukraine’s request for a blanket ban on Russian customers.
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