Ukraine determined to cut the enemy off from the crypto market

"There is no place for Russian political criminals in the blockchain industry" - says Ukrainian government.

A stock image of a Bitcoin logo behind bars.

On Saturday, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov announced on his official Telegram channel that the Ukrainian crypto community would reward any information about the cryptocurrency wallets of Russian and Belarusian politicians and their inner circles.

Gathered wallet addresses will be reported to cryptocurrency exchanges and Chainalysis, a crypto investigation company. The minister hopes that it will hamper the Kremlin's efforts to bypass Western sanctions imposed on Russia for invading Ukraine.

Later, Fedorov called on the cryptocurrency exchanges to ban all Russian users. “It is important to freeze the accounts of all citizens, not only Russian and Belarusian politicians”, the minister wrote.