--- title: "Hillary Clinton Calls Out Crypto Exchanges for Letting Russia Bypass Sanctions" description: "Russians are still able to use cryptocurrency exchanges to circumvent newly imposed sanctions — and former First Lady Hillary Clinton is absolutely furious." date: "2022-03-03" modified: "2022-03-03" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/hillary-clinton-crypto-exchanges" categories: - "Bitcoin" - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bitcoin" - "cryptocurrencies" - "Russia" --- # Hillary Clinton Calls Out Crypto Exchanges for Letting Russia Bypass Sanctions ![Russians are still able to use cryptocurrency exchanges to circumvent newly imposed sanctions — and former First Lady Hillary Clinton is absolutely furious.]() *\Image: Getty Images/Futurism\* Russians are still able to use cryptocurrency exchanges to circumvent newly imposed sanctions in response to the country's invasion of Ukraine — and former Secretary of State Hillary Clinton isn't happy. "I was disappointed to see that some of the so-called crypto exchanges, not all of them, but some of them, are refusing to end transactions with Russia," Clinton [told Rachel Maddow on *MSNBC*]() earlier this week, calling for everybody to "do as much as possible to isolate Russian economic activity right now." "I would hope somebody at the Treasury Department is trying to figure out how to rein in the leaky valves in the crypto market that might allow Russia to escape the full weight of the sanctions," Clinton told Maddow. The Biden administration has imposed multiple [rounds of sanctions]() at Russia and its oligarchs over the nation's aggressive invasion of Ukraine. The issue is that cryptocurrency exchanges are currently operating in a murky legal vacuum, allowing Russian actors to bypass the sanctions and funnel money in and out of the country. In fact, while the Russian ruble is getting [absolutely crushed](), cryptocurrencies like Bitcoin and Ethereum are [rallying](). Mainstream crypto exchanges such as Coinbase or Binance have yet to implement blanket bans on Russian citizens, as [*Decrypt* points out](). But if there ever were new sanctions that would forbid Russian citizens from making crypto transactions, they would likely abide. "I think there is a reputation issue here," Tom Keatinge, founding Director of the Centre for Financial Crime and Security Studies, [told *Decrypt*]() earlier this week. "Do you want now or after the fact to be known as the exchange that facilitated sanctions evasion, even if it were not technically illegal?" Clinton isn't alone in calling exchanges to crack down on Russian users. Ukrainian vice prime minister Mykhailo Fedorov also called on exchanges to "freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users," in [a tweet]() over the weekend. Strangely enough, Ukraine is [actively collecting donations]() via public Bitcoin and Ethereum wallets to fund its war efforts, collecting [over $30 million total]() as of Tuesday. "Ukrainian crypto community is ready to provide a generous reward for any information about crypto wallets of Russian and Belarusian politicians and their surroundings," Fedorov said in a [separate tweet](). "War crimes must be pursued and punished." Even before Russia invaded Ukraine, Clinton has been a major supporter of regulating blockchain, [calling on the White House]() to ensure crypto won't end up undermining the US dollar and other fiat currencies late last year. While US lawmakers have yet to make significant headway, there are at least some early signs of future regulation. Jerome Powell, chairman of the US Federal Reserve, [recently suggested]() that the current conflict "underscored the need for Congressional action on digital finance including cryptocurrencies," during a [March 2 testimony]() in front of the House Financial Services Committee. For now, Russians are able to offload assets via cryptocurrencies to circumvent sanctions. And whether the invasion of Ukraine will lead to enough pressure from the international community for the US to act remains to be seen. **READ MORE:** [Hillary Clinton Slams Crypto Exchanges That Haven’t Banned Russian Users]() \[*Decrypt*\] **More on crypto:** *[NFT Scammers Are Using a Sneaky Trick to Make Their JPGs Seem Like They're Worth a Fortune]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()