The passing of these bills by the Russian government signals a continuation of Russia's evolving strategy to circumvent Western sanctions, according to blockchain analytics firm Chainalysis' director of investigations, Valerie Kennedy.
It has been difficult for Russia to avoid the U.S. dollar and euro via the SWIFT system, which has created increasing risk of secondary sanctions.
The law hands power to Russia's central bank to oversee an 'experimental' regime, creating uncertainty about how cross-border payments will function.
The legislation does not lift the existing ban on using cryptocurrencies as legal tender within Russia, but allows for experimentation with cross-border transactions.
Collection
[
|
...
]