U.S. officials say it would be nearly impossible for Russia to “flip the switch” and convert to cryptocurrency to stabilize its sanctioned economy. They caution that Russian elites and entities may yet try to skirt the measures by transferring and obfuscating funds across the blockchain. The Treasury Department has targeted a decade of Russian elites – dating back to the country’s first invasion of Crimea in 2014. The White House is working with countries such as Australia, Canada, Japan, the U.K. and other EU member states, which have taken similar actions.”]
Source: https://www.cuinfosecurity.com/us-officials-push-collaboration-aml-controls-for-crypto-a-18662