Is Bitcoin a Violation of the Sanctions?

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crypto currency exchanges have said they are intending to block specific violations of sanctions. But also, what's happening in a more general sense is that is a potential for crypto to be used as an alternate way to transact with russia. Some people want to see them go further than the letter of the sanctions and cut off russia altogether. This kind of flies in the face of the philosophy that underpins crypto currency.

The controversial Nord Stream 2 pipeline company that was to bring Russian gas to Europe is reportedly insolvent, China has signalled it is ready to play a role in finding a ceasefire, and crypto exchanges are under pressure to block transactions with Russia as western politicians fear that cryptocurrencies will undermine the effectiveness of financial sanctions.

Mentioned in this podcast:

Nord Stream 2 pipeline becomes insolvent, says Swiss official

Beijing shifts public position after call between Chinese and Ukrainian foreign ministers

Crypto exchanges resist calls for Russia bans after sanctions

War in Ukraine: free to read

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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