Analyst: If Russia uses cryptocurrencies to evade sanctions, market prices will plummet

On February 27, economist and crypto analyst Alex Krüger warned that cryptocurrencies will be negatively affected if Russia turns to cryptocurrencies to evade sanctions.

U.S. regulators risk seeing it as a matter of national security and will crack down on the industry. Alex Krüger said that while he believes the prices of cryptocurrencies and other assets have bottomed out, the situation could worsen if a subsequent conflict leads to the use of nuclear weapons.