A criminal scheme of Russians to use cryptocurrencies to circumvent sanctions is revealed

Experts from Transparency International, an international anti-corruption organization, have discovered a new scheme by Russians to use cryptocurrencies to circumvent sanctions.

According to Transparency International, there are at least 8 OTC brokers in Moscow who help sell tens of thousands of dollars in stablecoins for cash and then exchange them in the UK for pounds sterling.

«They process cryptocurrencies starting at $ 10,000. Pridechange, Bitokk, Alfa. exchange, Finex24, Mychange, 24ExPay, Trust-exchange, and OTC Suex are all under sanctions, but they continue to operate,» the experts emphasized.

As Transparency explained, most Russian brokers have focused their attention on Britain, as this country has long been «the center of Russian money hidden abroad.» Russian oligarchs often keep their assets in luxury homes and football clubs.

It is worth noting that the so-called Ministry of Finance of the terrorist state plans to imprison all «gray» miners, as well as those who exchange cryptocurrencies. The agency also proposes to imprison miners if they do not declare their income. According to the draft law, digital assets can be sold on foreign exchanges or a domestic experimental platform. If a Russian chooses a different method, he or she will face arrest for 7 years, a substantial fine, and 5 years of forced labor.