Russians are using crypto to evade sanctions — but it’s not just the elite

Fearing Russia’s elite will evade economic sanctions by converting their wealth to cryptocurrency, high-profile US Democratic senator Elizabeth Warren has introduced a bill into US Congress to stymie Russian crypto transactions. Warren warned a Senate committee hearing: So no one can argue that Russia can evade all sanctions by moving all its assets into crypto. But for Putin’s oligarchs who are trying to hide, you know, a billion or two of their wealth, crypto looks like a pretty good option. The bill does not seek to impose a blanket ban on all Russian cryptocurrency transactions. But it would give the…

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