Former US presidential candidate Hillary Clinton has criticized cryptocurrency exchanges for refusing to stop serving users residing in Russia.

She believed that digital currencies should be placed in a regulatory framework, and cryptocurrencies should not become a means of escape for Russia.

Amid the Russian invasion of Ukraine, Deputy Prime Minister Mikhailo Fedorov asked leading cryptocurrency exchanges to freeze all blockchain addresses of Russian users.

In his view, such a move would weaken Russia and help defend Ukraine.

in an interview Speaking to MSNBC, former First Lady Hillary Clinton said she is disappointed that some cryptocurrency exchanges are still providing services to such users.

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I was disappointed to see that some of the so-called cryptocurrency exchanges, not all, but some of them refuse to end transactions with Russia and follow the philosophy of libertarianism or anything else.

In her view, everyone should do everything possible to isolate Russian economic activity.

This pressure will certainly affect President Putin, according to her. She added:

I think the Europeans should look at how to block the cryptocurrency markets on Russia to prevent it from giving Russia a chance to escape.

Among the cryptocurrency exchanges that still serve Russia-based traders are Binance and Kraken.

Some have argued that most Russian users are against war, and that freezing their accounts would be against the concept of the crypto industry.

It is worth noting that Clinton has previously expressed her concerns about Bitcoin and altcoins several times.

Last November, she claimed that large-scale adoption of crypto could destabilize entire countries.

As such, the Biden administration is beginning to realize how important regulation is to the crypto industry, which Clinton concluded.

The European Central Bank urges regulations as well:

Earlier this week, European Central Bank President Christine Lagarde stated that setting rules in the cryptocurrency world is very important right now.

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Otherwise, she explained, Russia could use the digital asset class to bypass financial sanctions, adding:

There are always criminal ways to get around the ban, which is why it is so important that regulation is pushed back as quickly as possible.

Other EU members, including Germany, Spain and Italy, support the implementation of oversight of this sector.

According to them, criminals may use bitcoin and alternative digital currencies for money laundering.

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