Cryptocurrencies may help Russia and its billionaires blunt the impact of western sanctions.
U.S. President Joe Biden has promised “severe sanctions” against Russia, and the European Union says “massive and targeted” measures are being prepared in addition to penalties that were imposed earlier this week — after Vladimir Putin ordered his troops into Ukraine.
But those sanctions might carry less weight in a country that is taking steps to legalize cryptocurrencies and where the digital assets are already widely owned.
