Crypto-currencies unlikely to bypass sanctions on Russia for now: ING

Singapore

CONCERNS that cryptocurrencies can be used as a major sanction evasion tool against Russia seem "exaggerated" for now as service providers are obliged to apply the sanctions as well, said ING.

ING head economist of digital finance and regulation Teunis Brosens disagreed with denying all Russians access to crypto services over the Ukraine conflict, in a research note on Monday (Mar 7).