US IRS, Chainalysis, Ukraine Target Russians Using Crypto To Avoid Sanctions
ABP NewsThe US Internal Revenue Service, Ukraine, and crypto investigations company Chainalysis are jointly working to target Russian oligarchs, who are likely to be using cryptocurrency to evade sanctions. IRS-CI Chief Jim Lee said in the recent announcement, as quoted by CoinDesk, "These trainings help participants hone their digital investigative skills to trace the source of blockchain funds.” Lee also said the move will help in unmasking cryptocurrency transactions with cryptocurrency forensic tools. Lee further said, “Sharing tools not only safeguard the U.S. financial system but the global economy also.” This comes after Russia's invasion of Ukraine, where the countries have allegedly used cryptocurrencies to promote war efforts, evade sanctions and support humanitarian efforts. Commenting on the matter, Cyber Police Department of the National Police of Ukraine police colonel Yurii Vykhodets, said, “We often see fundraising campaigns conducted with the use of cryptocurrency, as Russia believes in the possibility of circumventing sanctions by using virtual assets."
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