Can Anyone Stop the Oligarchs Slithering Out Through Crypto?

Photo Illustration by Elizabeth Brockway/The Daily Beast/GettyAs the bite of U.S. and European sanctions on Russian oligarchs settle in—the country’s top billionaires have lost $80 billion in recent days—concerns are mounting that these elites will try to skirt sanctions by flocking to cryptocurrencies to fly under the radar.And there are plenty of ways panicked oligarchs could take advantage of cryptocurrency trading to shuffle their funds around to hide their massive wealth, experts warn.“Russian sanctioned individuals potentially may try to use crypto in order to move rubles into crypto, ultimately offramp crypto into other currencies and use them,” Ari Redbord, a former senior adviser at the Treasury Department, told The Daily Beast.Read more at The Daily Beast.