TechFlow news, according to The Block, Anton Gorelkin, Deputy Chairman of the Information Policy Committee of Russia's State Duma, recently stated that Western sanctions cannot completely prevent Russians from using cryptocurrency markets or circumventing sanctions via cryptocurrencies.
In his Telegram channel, Gorelkin wrote: "It should be acknowledged that fully blocking Russia’s access to cryptocurrency markets is impossible. Cryptocurrencies will remain one of the most effective tools for bypassing sanctions, although USDT can now be safely crossed off this list."
Gorelkin added that he believes the recent sanctions will not be the last instance of Western countries exerting pressure on various aspects of cryptocurrency infrastructure for political purposes. Earlier reports indicated that stablecoin issuer Tether froze approximately $28 million in USDT funds belonging to Garantex, a Russian cryptocurrency exchange under sanctions, forcing the platform to suspend all operations.
