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ECB Urges Haste on Crypto Regulation in Wake of Russian Sanctions

  • Lagarde says framework should be pushed through quickly
  • EU working on crypto legislation to halt illicit funds flow
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Crypto Tumbles on Russia Incursion
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The European Union should move quickly to approve cryptocurrency regulation that prevents Russia from evading sanctions after invading Ukraine, according to European Central Bank President Christine Lagarde. 

“There are always criminal ways to try to circumvent a prohibition, which is why its so critically important that MiCA is pushed through as quickly as possible so we have a regulatory framework,” Lagarde said in a press briefing when asked if Russia could use cryptocurrencies to bypass penalties.