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In the midst of this, the price of virtual currency such as Bitcoin is rising day by day.

As Russia has been kicked out of the international financial settlement network and foreign companies have stopped trading, it is an analysis that is showing interest in virtual currency as a means to avoid these sanctions.



Reporter Im Tae-woo pointed it out.



<Reporter>



There is a long line in front of an ATM in downtown Moscow.



After a 30% drop in the value of the ruble, the Russian money, and rumors circulating that the bank could go bankrupt, they are trying to find some cash.



[Olga/Moscow citizen: I am worried that the government will confiscate all the money or that my bank card will be suspended.

I have been waiting in line for two days to withdraw money.]



Meanwhile, the popularity of virtual currency is soaring.



The price of major cryptocurrencies, including Bitcoin, rose more than 15% in two days.



This is because expectations are spreading that cryptocurrencies can serve as safe haven assets like gold in a war situation.



In particular, as the Western financial sanctions are concentrated on banks, some analysts say that the Russian government and key figures are showing interest in virtual currencies that are free from sanctions.



[Ipeg Ozkadeskaya/Swiss Quat Analyst: Being able to trade the Russian ruble with Bitcoin and other cryptocurrencies is a great opportunity for the Russian ruling class to circumvent Western sanctions.

Russian companies and even the central bank can avoid sanctions.]



The Ukrainian government has asked cryptocurrency exchanges around the world to block Russian accounts, but it has been rejected.



Exchanges can block the accounts of those subject to sanctions, arguing that blocking the accounts of all Russians is against the purpose of cryptocurrencies that they are not subject to central government interference.



It could be a haven for money unless Western countries start regulating cryptocurrencies right away.



(Video Edit: Choi Jin-hwa)



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