According To A New Report, Cryptocurrency Exchanges In Russia Run The Risk Of Long-Term Damage.

According To A New Report, Cryptocurrency Exchanges In Russia Run The Risk Of Long-Term Damage.

According To A New Report, Cryptocurrency Exchanges In Russia Run The Risk Of Long-Term Damage.

The London Stock Exchange Group CEO called it a “watershed moment” on Wednesday when he declared that if cryptocurrency exchanges stay in Russia, they face long-term harm to their sector.

According to European and U.S. officials, most crypto exchanges have rejected calls to cut off all Russian users, which has sparked concerns that digital assets could be used to circumvent sanctions levied by the US and EU Moscow in the wake of its incursion into the Ukrainian territory in 2014.

According to LSEG CEO David Schwimmer, crypto exchanges are at a “fork in the road” because they may embrace an ideology of regulatory independence or connect more closely with the global financial system, which emphasises the need for regulation and open frameworks.

I believe it would have a long-term influence on how that business is considered if that industry is regarded as an opposing player in the execution or evasion of sanctions over what’s happening with Russia,” he said at Boca Raton, Florida Futures Industry Association conference.

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