Hillary Clinton bangs Digital Money Exchanges For not banning Russian Clients

Hillary Clinton bangs Digital Money Exchanges For not banning Russian Clients

Hillary Clinton, the former presidential candidate slams digital crypto money exchanges that didn’t ban Russian customers from their platforms after Putin the invasion of Ukraine.

 

“I was disappointed to see that some of the so-called crypto exchanges, not all of them, but some of them, are refusing to end transactions with Russia, from some, I don’t know, philosophy of libertarianism or whatever,” Clinton said during a Feb. 28 interview on The Rachel Maddow Show on MSNBC.

“In this specific case of Ukraine, I do think that the Treasury Department, I think the Europeans should look hard at how they can prevent the crypto markets from giving an escape hatch to Russia, both governmental and private transactions in and out of Russia,” she added.

The idea of digital assets being an “escape hatch” is becoming a global concern among Western powers, given that three of the world’s biggest digital crypto money exchanges, Kraken, Binance, and Coinbase have opposed the idea of banning Russian customers. However, the cryptocurrency exchanges that are still facilitating Russian people and oligarchs alike, the risk of sanctions evasion is increasing, which will reduce the financial fines Western nations are imposing on Russia for invading Ukraine.

 In addition to this, other democratic entities including Sen.Elizabeth Warren, also insisted the US Treasury Department carefully watch cryptocurrency service providers’ activities in order to make sure that they remain compliant with the economic sanctions imposed on Russia.

Brian Armstrong, CEO of Coinbase published on Twitter, “we don’t think there’s a high risk of Russian oligarchs using crypto to avoid sanctions. Because it is an open ledger, trying to sneak lots of money through crypto would be more traceable than using U.S. dollars cash, art, gold, or other assets.” he also said that the firm will not ban all the Russian customers, because of financial risk associated with them, but the exchange will surely stay put with the mandate law if necessary.

However, Clinton’s remarks on MSNBC have spread criticism all over the internet, with people pinpointing the unbiased way of punishing Russian civilians for the action of the President.