Russian Crypto Policy Undermines Anti-Sanctions Efforts, Says Lawmaker A leading lawmaker has sounded the alarm, claiming that
insufficient regulation in the Russian crypto space is dealing a blow to Moscow's fight against Western economic sanctions.
Andrei Lugovoy, the First Deputy Chairman of the State Duma’s Committee on Security and Anti-Corruption,
didn't mince words, describing Russian crypto policy as ranging from "bad to disgusting." Speaking at a forum focused on digital assets,
Lugovoy's critique of the government's inaction on regulation was one of the most
"striking" assessments made by speakers.
The lawmaker expressed concern that without clear rules, the lack of oversight in Russia's cryptocurrency sector is inadvertently aiding the West's sanctions strategy. He warned that this undermines the very
anti-sanctions policies put forth by Moscow.
Lugovoy also took aim at the government working groups responsible
for shaping crypto regulations, suggesting that their efforts have fallen short thus far.
