Crimea May Create Crypto Fund to Bypass Sanctions

The government of Crimea is now discussing the foundation of crypto fund for international investors in an attempt to alleviate the effects of economic sanctions, reports Russian media service TASS.


The Crimean Deputy Prime Minister Georgy Muradov explained:

 “We are discussing ways to avoid sanctions. One of these methods is the creation of a cryptocurrency investment fund in Crimea where we will accumulate cryptocurrency resources, transfer them to normal money, and then use them for the realization of any kind of investment projects on Crimean soil.”

According to Muradov, the creation of crypto fund will be discussed along at Yalta International Economic Forum, as the attraction of international investors will be one of the main issues on the agenda. The current plan is to strike at least 10  deals between local companies and different investors from abroad.

The Fourth Yalta International Economic Forum, “The Future of the World. The Future of Russia” will take place from April 19-21. Morea than 3,000 people from 60 countries are expected to participate.

Just a few day ago, Russia has blocked Telegram, one of the most popular messenger for crypto community. As a consequence,  20 mln IP addresses were banned, but Telegram users  still report that the app keeps functioning without any additional steps required from the user, like using proxy or VPN.

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