bne IntelliNews – Tether emerges as a key crypto for Russia’s foreign trade.
Recent reports indicate that Russia has been increasingly using the crypto stablecoin Tether (USDT) in international transactions in a bid to circumvent Western sanctions. USDT is a preferred cryptocurrency for these kinds of trades due to its peg to the US dollar and very low transaction costs compared to traditional banks. Meanwhile, there is a probability that, as stablecoins get wider regulatory acceptance, deals involving this type of crypto might become more widely spread.
Circumvention of sanctions
…
