Can Crypto Help Russia Beat Western Sanctions?
Russia has increasingly turned to cryptocurrencies to address challenges with ruble transactions including convertibility issues, payment delays caused by Western sanctions and exchange rate volatility.
While crypto may enable Russia to finance illicit activities or facilitate limited trade, its broader adoption in international commerce remains uncertain due to the hesitancy of Moscow’s partners and heightened scrutiny from Western governments.
Where does Russia stand on digital currencies?
Since Russia’s full-scale invasion of Ukraine, authorities have taken significant steps to promote and regulate cryptocurrencies after years of hesitation.
A new set of laws that took effect in…
