Odaily Planet Daily News Blockchain analysis company Chainalysis' latest report pointed out that Russia is building financial infrastructure to use cryptocurrencies for international trade and circumvent Western sanctions. The report emphasizes that the bill recently passed by the Russian parliament legalizes cryptocurrency mining and allows the use of cryptocurrencies for international payments. The bills were signed into law by President Putin on August 8, and the crypto payment pilot will begin in September this year. The Central Bank of Russia (CBR) will supervise the cross-border cryptocurrency transaction pilot and is testing the digital ruble, which is expected to be launched in 2025. Valerie Kennedy, head of investigations at Chainalysis, said that the CBR is taking the lead in incorporating cryptocurrencies into the Russian financial system for cross-border payments. The report pointed out that centralized cryptocurrency exchanges in Russia may be used to process cross-border payments, such as Garantex. Chainalysis said that Russia is also exploring other ways to bypass Western sanctions, including blockchain initiatives with BRICS countries and possible cooperation with Iran to launch a gold-backed stablecoin.