Christopher Wray, the director of the Federal Bureau of Investigation, said that fiat was a more likely avenue for Russia to explore in circumventing sanctions, given the United States’ ability to block efforts using crypto.

On Thursday, Senator Martin Heinrich from New Mexico was heard by the Senate Select Committee on Intelligence. Frequently Asked Questions the FBI director if Russia might respond to the economic impact of the United States banning imports of the country’s oil and gas by using reserves of gold, China’s currency or cryptocurrency. Wray explained that both the FBI and its affiliates have “accumulated significant expertise” regarding digital assets. citing the department’s recent workThere were security issues in crypto-based sanctions avoidance when large quantities of tokens were taken into evidence.