The US authorities have asked crypto exchanges to help prevent the use of digital currencies to circumvent sanctions imposed on Russian individuals and organizations, Bloomberg has reported citing sources.
According to the publication, the White House National Security Council and the US Department of the Treasury have asked operators of the world's largest decentralized crypto platforms to stop any attempts to circumvent restrictions imposed by the US and its partners following the Russian military operations in Ukraine.
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A White House spokesman has said cryptos do not replace the US dollar, which is widely used in Russia. However, the US authorities intend to combat the misuse of digital assets to circumvent sanctions.
The US, the EU, the UK and Canada have recently announced they intend to disconnect some Russian banks from the SWIFT system and also limit the ability of the Bank of Russia, the country's central bank, to conduct operations to back the ruble. The aim of all these measures is to isolate Russia from the international financial system.