Ukraine Cancels Crypto Airdrop Amid $57M Crypto Contributions, Announces NFTs Instead.

Since Ukraine began accepting crypto donations, the headlines have been arriving fast and strong. Over $50 million has been donated so far, including from some of the crypto industry’s biggest names.

The West has stated that it does have some concerns with respect to the crypto market. The concern primarily relates to Russia using the crypto market to mitigate some of the effects of the sanctions. Crypto exchanges like Coinbase and Kraken have also said that they will not curb their platform in any way in Russia.

However, so far, that narrative hasn’t really substantiated itself. Chainalysis reports that crypto volumes in Russia are at normal levels. Still, the sanctions have hardly made its full impact on the Russian economy, so that could very well change.

One potential catalyst for that change is the fact that the European Union is keen on bringing crypto under the terms of the sanctions. If so, it could create a legal reason that would compel the aforementioned exchanges to stop serving Russian users.

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