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US, UK probe $20 billion of crypto transfers to Russia exchange
️ *US, UK PROBE $20 BILLION OF CRYPTO TRANSFERS TO RUSSIA EXCHANGE
— Cable FX Macro (@cablefxmacro) March 28, 2024
Added at 9:23am
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— the more than $20 billion of transactions went through a sanctioned Moscow-based virtual exchange called Garantex
— Alex Wickham (@alexwickham) March 28, 2024
— they used the dollar-pegged cryptocurrency Tether
— the payments took place since Garantex was sanctioned by the US and others in 2022https://t.co/SVO2A1w3fL
Added at 9:23am
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— sources said the inquiries were ongoing and it was too early to anticipate their conclusions given the complexity and opacity of crypto transactions
— Alex Wickham (@alexwickham) March 28, 2024
— it shows the West’s struggle to decisively cut off the flow of money to Russiahttps://t.co/SVO2A1w3fL