The Unexpected Surge of Russia’s Crypto Economy Under Sanctions
What happens when traditional banking systems crumble under the weight of global sanctions? In Russia’s case, an unanticipated and robust underground crypto economy has emerged. As banks step back and SWIFT transactions falter, cryptocurrency emerges like a beacon for those navigating these turbulent waters. The result? A burgeoning hidden marketplace powered by stablecoins, where commerce flourishes beyond the prying eyes of conventional finance. An elaborate network of over-the-counter (OTC) trading, stablecoin utilization, and burgeoning Bitcoin mining is now the lifeblood of a shadow economy that audaciously seeks newfound financial freedom.
Sanctions Redraw the Financial Landscape
The intense sanctions following the geopolitical…
