Global regulators monitor crypto use in Ukraine war

FILE PHOTO: Illumination of the stock graph is seen on the representations of virtual currency Bitcoin in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic

LONDON (Reuters) -Global financial regulators are closely scrutinising the use of cryptoassets during the war in Ukraine after concerns they could be used to evade Western sanctions on Russia.

The $1.8 trillion crypto sector is on the defensive amid warnings from U.S. and European lawmakers that digital asset companies are not up to the task of complying with Western financial sanctions imposed on Russia following the country's invasion of Ukraine.