Security

US threatens crypto exchanges, financial institutions aiding Russia

March 29, 2022

The U.S. will personally hold accountable any cryptocurrency exchange, financial institution or individual who helps Russia get around sanctions, according to a report by CNBC.

"What we want to make very clear to crypto exchanges, to financial institutions, to individuals, to anyone who may be in a position to help Russia take advantage and evade our sanctions: We will hold you accountable," Wally Adeyemo, deputy U.S. Treasury secretary, said in the report. "We will come and we will find you."

These comments come in the wake after the G-7 countries said they would not allow the Russian state nor oligarchs to utilize digital assets to get around sanctions. Russia has been increasingly cut off from financial services following the invasion of Ukraine on Feb. 24.

"We have not seen to date that Russia has been able to evade our sanctions in a meaningful way, but we know that they are attempting to do so and we know they are going to try and use every means possible," Adeyemo said.