“All property and interests in property that are in the United States, that hereafter come into the United States, or that are or hereafter come into the possession or control of any United States person of the following persons are blocked from being transferred, paid, exported, withdrawn, or otherwise dealt with… deceptive or structured transactions or dealings to circumvent any United States sanctions, including through the use of digital currencies or assets or the use of physical assets,” the document said.
It also transpired that the EU will prepare measures in the cryptocurrency sector so that they do not contribute to Russia evading the financial sanctions imposed by member states for its military attack on Ukraine, as agreed on Wednesday by the Ministers of Economy and Finance of the Twenty-seven. . This was explained by the French minister and rotating presidency of the EU, Bruno Le Maire, who reported that the Twenty-seven have agreed on the need to work on “supplementary measures” that increase the effectiveness of the sanctions that have been put in place, such as the paralysis of the Russian Central Bank or the freezing of its assets.
Yesterday, Ukraine’s Deputy Prime Minister Mykhailo Fedorov took to Twitter to urge “all major cryptocurrency exchanges to block Russian user addresses.”
“I am asking all major crypto exchanges to block Russian user addresses. It is crucial to freeze not only addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users,” he said on his official Twitter account. .
All of the above is evidence that Western governments are aware that largely unregulated digital currencies, some of which can be difficult to trace internationally, offer a potential way for individuals on the sanctions list. they can avoid them. Although the US Treasury regulations only apply to US entities, federal officials are asking exchanges around the world to comply. “In all likelihood, we can expect similar guidance from government departments in the UK, Europe, and other countries in the coming days,” Coingeek said.
While US entities will quickly comply with Treasury regulations, most exchanges have denied the Ukrainian government’s request to block Russian IP addresses and freeze Russian and Belarusian assets. The request came directly from the Ukrainian Deputy Prime Minister and Minister for Digital Transformation Mykhailo Fedorov.
While some, like the Ukrainian-based digital asset platform DMarket, complied with the request, others like Binance, Coinbase, and Kraken refused.
Source: Ambito
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