{"id":136902,"date":"2024-09-07T11:00:48","date_gmt":"2024-09-07T08:00:48","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136902"},"modified":"2024-09-06T16:58:08","modified_gmt":"2024-09-06T13:58:08","slug":"russia-aims-to-bypass-western-sanctions-with-crypto-says-chainalysis","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/russia-aims-to-bypass-western-sanctions-with-crypto-says-chainalysis\/","title":{"rendered":"Russia Aims to Bypass Western Sanctions with Crypto, Says Chainalysis"},"content":{"rendered":"<p>New legislation enacted on August 8, which President Vladimir Putin has signed, now permits cryptocurrency mining and its use in international trade. Testing for crypto payments is set to start in September.<\/p>\n<p>These legislative changes are part of Russia\u2019s strategy to diminish reliance on the US dollar and explore alternative financial systems amid escalating geopolitical tensions. The CBR is also advancing its digital ruble, a central bank digital currency (CBDC) slated for a 2025 launch. Certified mining operations will be allowed to use digital currencies for international transactions.<\/p>\n<p>Chainalysis <strong><a href=\"https:\/\/www.chainalysis.com\/blog\/russias-cryptocurrency-legislated-sanctions-evasion\/?mkt_tok=NTAzLUZBUC0wNzQAAAGVYy59o-ZMlT4vP82ZyXDjKDkuTZrg4agrPXUNQiunG5w3reaoT2A2ITVk35g0pOrfaUTmx-PT4N7TWQF8uc95pusisd3UgQYnEZTPfyE46ZOL\" rel=\"nofollow\">highlighted<\/a><\/strong> that Russian cryptocurrency exchanges like Tetchange, 100btc, Bitzlato, Suex, and Garantex, based at the Moscow International Business Center, might be leveraged for these payment activities. Garantex, in particular, is noted for its substantial liquidity and could be significant under the new regulations.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-136833\" href=\"https:\/\/cryptodnes.bg\/en\/another-country-is-thinking-of-adding-bitcoin-as-a-reserve\/\" title=\"Another Country is Thinking of Adding Bitcoin as a Reserve\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/terra-bitcoin-reserve-1024x576-1.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Another Country is Thinking of Adding Bitcoin as a Reserve<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Additionally, Exved, linked with InDeFi Bank and co-founded by Sergey Mendeleev and media figure Alexander Lebedev, has reportedly been handling import and export transactions even before the legislation\u2019s formal approval.<\/p>\n<p>Despite the complexities introduced by Russia\u2019s evolving crypto landscape, Chainalysis maintains that blockchain transparency will remain a key tool for monitoring these financial activities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain analytics firm Chainalysis reports that the Central Bank of Russia (CBR) is spearheading efforts to incorporate cryptocurrency into the country&#8217;s financial infrastructure, aiming to facilitate cross-border transactions and bypass Western sanctions.<\/p>\n","protected":false},"author":3,"featured_media":35062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[424],"coin_category":[],"class_list":["post-136902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-crypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Russia Aims to Bypass Western Sanctions with Crypto, Says Chainalysis<\/title>\n<meta name=\"description\" content=\"Blockchain analytics firm Chainalysis reports that the Central Bank of Russia (CBR) is spearheading efforts to incorporate cryptocurrency...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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