The EU is bypassing the use of encrypted currencies in Russia to "take measures"

The EU is bypassing the use of encrypted currencies in Russia to "take measures"

French Finance Minister Bruno Le Maire said: "In terms of economic and financial sanctions, we hope to keep flexibility and mobilization."

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On behalf of the Economic and Finance Minister of EU countries, they will resolve Russia may use encrypted currency to escape the sanctions to be implemented after Ukraine.

On Wednesday, after the EU Economic and Finance Minister’s informal video conference, the French Finance Minister Bruno Le Maire said to reporters that MRARs have frozen the "large amount of assets" of the Russian central bank, which is the country’s act on Ukraine. Part of the effort. However, he added that 27 Member States of the EU have decided to take additional measures to prevent Russia from escaping sanctions, including expanding sanctions to Belarus.

Le Maire said:"We are taking measures, especially in encrypted currency or encryption assets, these should not be used to avoid financial sanctions. We will evaluate these sanctions, effectiveness, and any additional measures that may be needed. In economic and financial In terms of sanctions, we want to keep flexibility and mobilization. "

German Finance Minister Christian Lindner responded to Le Maire’s comments, saying that EU leaders should "take measures to prevent personal and institutions on the sanctions from stenating encrypted assets", refer to the Russian individual and bank mentioned in sanctions. The EU announced that it has decided to remove seven Russian banks from the SWIFT cross-border payment system, which will take effect within 10 days.

In the past six days, the encrypted currency has been hanging on many Members, February 25th, the European Central Bank President Christine Lagarde called on the EU legislators to approve the encrypted regulatory framework, suggesting that Russia will from bypass sanctions. In the United States, legislators have also taken similar regulatory measures to allow countries to benefit from digital assets, rather than "tyrants, terrorists and money launders".

Author: Amy Liu

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