INDUSTRY INSIGHTS

The U.S. Russian Sanctions Have Empowered Crypto Regulation To a Presidential Scale

President Joe Biden’s urgent move to counter Russia’s invasion of Ukraine has assisted the U.S. across the threshold with a regulatory strategy that’s been years in the making.

On February 21 2022, President Joe Biden signed an executive order to block the property of certain persons and prohibit certain transactions with respect to the continued Russian efforts to undermine the sovereignty and territorial integrity of Ukraine. Since that day, global efforts to stop President Vladimir Putin’s war on Ukraine have witnessed the passing of economic sanctions against Russia at a truly unprecedented level.

Whilst these collected sanctions are beginning to reveal cracks in Russia’s infrastructure, they are also drawing out the dire consequences attached to a lack of crypto regulation in the U.S. as Russia becomes poised to use cryptocurrencies to circumvent.

President Joe Biden’s urgent move to counter Russia’s invasion of Ukraine has assisted the U.S. across the threshold with a regulatory strategy that’s been years in the making.

On February 21 2022, President Joe Biden signed an executive order to block the property of certain persons and prohibit certain transactions with respect to the continued Russian efforts to undermine the sovereignty and territorial integrity of Ukraine. Since that day, global efforts to stop President Vladimir Putin’s war on Ukraine have witnessed the passing of economic sanctions against Russia at a truly unprecedented level.

Whilst these collected sanctions are beginning to reveal cracks in Russia’s infrastructure, they are also drawing out the dire consequences attached to a lack of crypto regulation in the U.S. as Russia becomes poised to use cryptocurrencies to circumvent.