Cryptocurrency exchanges are risking long-term damage to their industry for remaining in Russia as Western governments seek to isolate Moscow, the head of the London Stock Exchange Group said on Wednesday, calling it a “watershed moment.”
Unlike payment companies, most crypto exchanges have rejected calls to cut off all Russian users, sparking concerns among European officials and U.S.
“If that industry is seen as a bad actor ... on the implementation of, or the avoidance of, sanctions in terms with what’s going on with Russia, I think that would have a long-term impact in terms of how that industry is perceived,” he said at a conference hosted by the Futures Industry Association in Boca Raton, Florida.
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