How sanctions against Russia are driving the trend of de-dollarization

Sanctions against Russia have contributed to promoting the trend of de-dollarization in the country's economy. When economic sanctions were imposed, Moscow had to seek alternative means to maintain trade and international payment transactions. The Russian government began encouraging the use of cryptocurrency as a tool to cope with these measures, aiming to "bypass" trade barriers and quickly create a legal framework for cryptocurrency mining and trading.

This move is not only seen as an urgent response but also part of a long-term strategy to reduce dependence on the US dollar. Promoting the use of cryptocurrency not only helps Russia preserve trade activities but also expands trading capabilities in sanctioned regions, such as with China and Iran, to support its trade flow.

In addition, building a legal environment for cryptocurrency mining and usage in Russia could continue to increase demand in this industry, thereby creating more economic opportunities.