We’re told that there are no measures to prevent Russian market participants from using cryptocurrencies to dodge economic sanctions and it appears nothing much has been done to stop this from happening.

Luke Grant speaks to Elvira Sojli, Associate Professor of Finance in the School of Banking and Finance at UNSW Business School, who says that while crypto is proving to be a necessary lifeline for Ukraine, there are growing concerns Russia might use it to circumvent sanctions and move money undetected.

Russia has one of the highest levels of crypto adoption, and before the Russia-Ukraine conflict, it ranked third among countries that sent the largest share of crypto transfers abroad after Turkey and Ukraine.

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