Former US presidential candidate Clinton Hillary has criticized cryptocurrency exchanges for refusing to stop serving users residing in Russia.
She stressed that digital currencies should be placed within a regulatory framework and that cryptocurrencies should not become an escape method available to Russia.
In a recent interview with MSNBC, former First Lady Hillary Clinton said that she is disappointed that some cryptocurrency exchanges are still providing services to such users. Her statement is as follows:
“I was disappointed to see that some, but not all, so-called cryptocurrency exchanges refuse to accept
End dealings with Russia and follow the philosophy of liberalism or something else.”
In her view, everyone should do everything possible to isolate Russian economic activity. This pressure will certainly affect Putin, and Clinton added:
“I think Europeans should consider how to block cryptocurrency markets to prevent giving a chance.”
Flee to Russia.
In the midst of Russia’s invasion of Ukraine, Deputy Prime Minister Yekhaylo Fedorov asked leading cryptocurrency platforms to freeze all blockchain addresses of Russian users, and according to him, such a move would weaken Russia and help defend Ukraine.
Platforms refused to boycott the Russians
Among the cryptocurrency exchanges that still serve traders based in Russia are Binance and Kraken.
Some have argued that most Russian users are against war and that freezing their accounts would be against the concept of the crypto industry.
It is worth noting that Clinton has previously expressed her concerns about Bitcoin and altcoins several times.
Last November, she claimed that large-scale adoption of cryptocurrencies could destabilize entire countries.
As such, the Biden administration is beginning to realize how important regulation is to the cryptocurrency industry, which Clinton has concluded.
The European Central Bank urges regulation as well:
European Central Bank President Christine Lagarde said earlier this week that setting rules in the cryptocurrency world are very important right now.
She explained that otherwise, Russia could use the digital asset class to bypass financial sanctions, adding:
“There are always criminal ways to get around the ban, which is why it’s so important to
Regulation is being paid as quickly as possible.”
Other EU members, including Germany, Spain, and Italy, support the implementation of oversight of this sector.
According to them, bitcoin and altcoins may be used by criminals for money laundering.