Russians are turning to the United Arab Emirates (UAE) cryptocurrency platform to stabilize their finances and have petitioned the platform so they can sell the cryptocurrency, Reuters reports. The multi-billion dollar pto.

Similarly, some people want to buy real estate in the UAE, while others want to convert their holdings into legal tender and keep them.

The exchange confirmed that over the past 10 days it has received numerous requests from Swiss brokers to sell billions of dollars worth of bitcoin because they are concerned that Swiss authorities. land could withhold that amount, which the company said totaled more than $2 billion in requests.

He added that platform executives said they do not investigate large transactions once a month.

“In the last two weeks we’ve had five to six large transactions that have not been investigated and they may have been misplaced priorities, so it’s not uncommon for that to happen and we haven’t gotten too much attention.”

The person in charge also said

“There was a guy we didn’t know who it was, but he came from a broker and he said “we want to sell 125,000 bitcoins,” and I was like, “What?” That was $6 billion, and they said, ‘Yes. We’re going to send it to an Australian company.”

On the other hand, the Swiss market maker declined to comment on cryptocurrency trading volumes.

The country's economic secretariat (SECO) said in an email that Russian digital assets are subject to the same sanctions as traditional asset holdings, so sanctioned funds must be suspended in Switzerland.

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Dubai has become a bunker for the Russians.

Dubai is an Arab business hub, the cryptocurrency market is growing, and Dubai is not keen on choosing between Russia and its Western allies, thus opening the way for the Russians. Keep their money here.

In addition, real estate agents who work with cryptocurrency companies to make them more accessible to people say.

“We’ve seen a lot of Russians, even Belarusians, come to Dubai and bring what they can, even the cryptocurrency they bring.”

According to UAE financial sources, a large number of people buying property in Dubai will use cryptocurrencies to buy in order to safely transfer their money abroad.

Cryptocurrency exchanges around the world are blocking access to Russians due to international sanctions, as they are called. The Special Action

Similarly, the world's largest cryptocurrency exchanges, Coinan and Coinbase, decided to comply with sanctions to prevent Russians from using cryptocurrency as a safe haven.