G7 looks to stop cryptoassets use as Russia sanctions dodge

The Group of Seven industrialised nations are examining ways to stop individuals or companies targeted by Western sanctions over Russia's invasion of Ukraine using cryptocurrencies to dodge the punitive measures, Germany's finance minister said Wednesday.

"We should take measures to prevent listed persons and institutions from switching to unregulated cryptoassets. We are working towards this in the context of the German presidency of the G7," said Christian Lindner.