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ECB Doubts Crypto’s Sanction Role Amid Ruble Crypto Trading Dip -Breaking

by Mike Robinson

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ECB Doubts Crypto’s Sanction Role Amid Ruble Crypto Trading Dip
  • European Central Bank President Lagarde is “concerned” about the use of crypto amidst Russia sanctions.
  • Meanwhile, ruble-denominated crypto volume continues to diminish.
  • The launch of digital euro is a goal for the ECB in 2024.

Christine Lagarde (ECB President) expressed concern over increasing usage of cryptocurrencies in order to circumvent sanctions against Russia for the conflict with Ukraine. Despite the continuing decline in the crypto-denominated ruble volume, it is still a worrying trend.

Earlier this week, the ECB chief said she was “most concerned” about the high volume of Russian rubles being converted to cryptocurrencies following the country sustaining a series of sanctions over its aggression towards Ukraine.

Lagarde insisted crypto assets are being used “to circumvent the sanctions that have been decided by many countries around the world against Russia and a particular and specific number of players.”

The president of the ECB warned also the community:

Here in Europe, we ha …

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