🇬🇧 Chainalysis analysts have published a new report on the methods Russia uses to bypass sanctions using cryptocurrencies, the main points:
1⃣ The Central Bank is leading an initiative to integrate crypto assets into the financial system for cross-border payments - the infrastructure will allow Russian companies to use digital currencies for international trade.
2⃣ Russia is considering various blockchain initiatives together with BRICS.
3⃣ Despite the sanctions, some local crypto platforms “successfully processed a significant volume of transactions from certain entities in Russia and Iran,” helping to evade sanctions.
4⃣ Russia plans to launch a stablecoin that will be backed by gold in partnership with Iran.
