US analysts report the creation of a cryptocurrency infrastructure in Russia to circumvent sanctions

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Against the backdrop of difficulties in making bank payments even with friendly countries, Russia is actively developing cryptocurrency infrastructure. The implementation of these projects will allow Moscow to bypass sanctions imposed by the West and facilitate foreign trade relations with other market participants.

American analytical company Chainalysis drew attention to a number of new laws adopted in Russia in the field of cryptocurrencies. The state actively regulates this industry, allowing the mining of these monetary units and their use for international payments.



The Central Bank of the Russian Federation is leading an initiative to integrate cryptocurrency into the Russian financial system for cross-border payments, creating a pilot infrastructure that will allow approved Russian businesses and organizations to use digital currencies for international trade.

– analysts from Chainalysis state.

In their report, American experts note that separate crypto exchanges based in Russia will be used for settlements. In general, Moscow is deeply studying possible methods of bypassing Western restrictions that affect international banking payments. In particular, the Russian Federation, in cooperation with Iran, plans to launch a stablecoin backed by gold, and is also developing payment systems within the BRICS bloc.

Russia's pivot to cryptocurrency is a calculated response to Western sanctions, targeting an alternative financial system less dependent on the US dollar

– Chainalysis sums up.
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  1. Mongolor
    Mongolor
    0
    7 September 2024 15: 05
    Everything is correct, the main thing is our own payment system and not dependence on the Rothschilds and Rockefellers, first the World, then crypto + digital and foreign currency ruble
  2. AlOrg
    AlOrg
    0
    8 September 2024 00: 55
    But everything could have already been done and working if it weren't for the pro-Western positions of our financial regulators. With their approaches, we are unlikely to see a working solution in the foreseeable future.