Fintech

Ex-US Treasury adviser tells crypto firms Russia will attempt to evade US sanctions

The US Treasury will target the 'illicit underbelly' of the crypto economy, according to a former adviser

Calls are growing on the digital assets sector to step up and ensure sanctioned individuals don't use cryptocurrencies as a loophole
Calls are growing on the digital assets sector to step up and ensure sanctioned individuals don't use cryptocurrencies as a loophole Photo: Alexander Ryumin/Getty Images

A former US Treasury official told the global cryptocurrency industry to get its compliance house in order to stop Russia dodging sanctions through digital assets.

“There’s never been a more important moment in the crypto industry in compliance, to make sure that we have the controls in place to mitigate the risk of illicit actors,” Ari Redbord, a former adviser in the US Treasury’s terrorism and financial intelligence unit, said.

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