Russia’s sanctions-dodging crypto processes $100 billion in under a year
A7A5, digital currency backed by the Russian ruble has processed more than $100 billion worth of transactions in under 12 months, even as European authorities move to shut down its operations through new restrictions.
A7A5 operates on Ethereum and Tron. Data from blockchain research company Elliptic shows the currency has handled $17.3 billion in trading activity. Users have made close to 250,000 separate transactions using 41,300 different accounts since the token started operating.
However, recent figures suggest interest in the currency may be dropping off. Daily transaction amounts have fallen significantly from their highest point of more than $1.5 billion down to roughly $500 million. The company behind the token has not…
