Sources from Reuters report that crypto companies in the United Arab Emirates have faced a huge number of inquiries from Russians.
One of the directors of such a cryptocurrency company told the publication that over the past week, requests have come from Swiss brokers to liquidate billions of dollars in cryptocurrencies. According to him, the clients of these brokers are afraid that their assets will be blocked, so they rush to convert them into fiat currency and “hide” them in other places. At the same time, all applications for the sale of cryptocurrencies are not less than $2 billion. Typically, such large applications are received once a month.
“We have had five or six such applications in the last two weeks. We have not fulfilled them yet, but we have never had such a large number of requests. One guy came, I don’t know who he is, but he came through a broker and asked to sell 125,000 bitcoins. He wants to sell the coins and transfer funds to Australia,” said a spokesman for an unnamed company.
The publication also reports that rich Russians use cryptocurrency to buy real estate in the UAE. One of the real estate brokers announced a partnership with a cryptocurrency company in order to be able to sell houses and apartments using virtual currencies:
“We see a lot of Russians and even Belarusians coming to Dubai and bringing all their money, often in cryptocurrencies.”
Earlier, FBI Director Christopher Wray emphasized that the United States has “great experience” in tracking cryptocurrencies and Russia will not be able to use them to circumvent sanctions.
Source: Bits
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