Is Russia is on the way to adopt cryptocurrencies?

[zasad@]

Is not the Garatex, Binance, Bybit, Huobi, Huobi exchanges are still operating in Russia, maybe the place is not located in the heart of the Russian Moscow center, I think the new exchange operating in Moscow is not one thing that makes The Russian government leads to a large adoption, maybe since the new stock exchange is a place in the city of Moscow for that they make it there, I think it's normal, it's just that the occasions are accidentally located in Moscow.

Binance does not officially operate in Russia. They are afraid of sanctions.

Verification is not possible with a Russian passport.
Old accounts have the opportunity to trade, and many Russians verify accounts from other countries, for example from Turkey or Kazakhstan
Korean exchanges allow trading with Russian passports.

I would like to see a link to the document. According to this provision, the banks can already block almost any transaction that they consider questionable.

CENTRAL BANK OF THE RUSSIAN FEDERATION
"REGULATION of March 2, 2012 N 375-P
ON REQUIREMENTS TO THE RULES OF INTERNAL CONTROL OF A CREDIT ORGANIZATION FOR THE PURPOSES OF COUNTERING THE LEGALIZATION (LAUNDERING) OF CRIMINAL PROCEEDS AND THE FINANCING OF TERRORISM"
https://normativ.kontur.ru/document?moduleId=1&documentId=448134

This statement contradicts this company https://a7-business.ru/

I don’t have a link to the official publication, but you can read the text of the document itself here: https://t.me/hranidengi/7724

This is the Telegram channel of the website hranidengi.ru, whose materials I’ve been using for more than ten years, and they have never let me down. They always publish genuinely reliable information.

As for the banks’ right to refuse transactions related to cryptocurrency - yes, they’ve had this right for quite a while. Now, however, it also becomes their obligation. But only in cases where the bank becomes aware before the transaction that it is connected to cryptocurrency turnover. For example, when transferring money to a foreign cryptocurrency exchange or swapping service.

As far as I understand, A7 doesn't operate with real cryptocurrencies - only with stablecoins which in Russian law look like "electronic money", not cryptocurrency ("digital currency").

Under sanctions, it is already very difficult to conduct cryptocurrency transactions with foreign companies. The state does not want money to leave the country and enter citizens' accounts from unknown sources. So far, all these restrictions have been successfully circumvented.

[internetional]

Under sanctions, it is already very difficult to conduct cryptocurrency transactions with foreign companies. The state does not want money to leave the country and enter citizens' accounts from unknown sources. So far, all these restrictions have been successfully circumvented.

I used to frequently use one Russian international money transfer service. Then that service came under sanctions, and it became impossible to receive transfers in the country where I usually collected them. So I stopped using it. About two years later, I got a marketing phone call from this service, during which they asked me, among other things, whether I would be interested in receiving transfers from Russia abroad in cryptocurrency.

[zasad@]

Under sanctions, it is already very difficult to conduct cryptocurrency transactions with foreign companies. The state does not want money to leave the country and enter citizens' accounts from unknown sources. So far, all these restrictions have been successfully circumvented.

I used to frequently use one Russian international money transfer service. Then that service came under sanctions, and it became impossible to receive transfers in the country where I usually collected them. So I stopped using it. About two years later, I got a marketing phone call from this service, during which they asked me, among other things, whether I would be interested in receiving transfers from Russia abroad in cryptocurrency.

I have friends who work remotely in Europe. The intermediary company issues an invoice to a European company, and then transfers rubles to the account of a Russian company LLC. There are enough such companies on the Russian market. It is also possible to work in the opposite direction. I will always say that if there is demand for a service, there will be supply.

[zasad@]

Russia Overtakes UK as Europe’s Largest Crypto Market, Chainalysis Finds
https://finance.yahoo.com/news/russia-overtakes-uk-europe-largest-120215494.html

"Key Takeaways

Russia recorded $376 billion in crypto transaction value between July 2023 and June 2025, beating the U.K. and Germany.

Chainalysis found that the EU’s Markets in Crypto-Assets framework is boosting institutional participation.

The U.K. remains an innovation hub but is falling behind the EU’s regulatory progress.

Russia has overtaken the U.K. to become Europe’s largest cryptocurrency market by transaction volume, according to data from blockchain analytics firm Chainalysis released on Thursday."

[Ashim costa]

Especially after the war,Russia has been very keen to adopt Cryptocurrency. Russia has become more Crypto-Friendly after the was began.and rightfully so, It has no where else to go,It ha no other ways to conduct transections except for Cryptocurrencies and specifically bitcoin.Russia is also interested in cinducting payments via bitcoin and also, It is good for the bitcoin community.Because countries like russia adopting bitcoin at an international level to conduct international payments will give a boost to the adoption of bitcoin.It will change the oil-age perception of other countriesof the BRICS BLOC as well.

[zasad@]

Especially after the war,Russia has been very keen to adopt Cryptocurrency. Russia has become more Crypto-Friendly after the was began.and rightfully so, It has no where else to go,It ha no other ways to conduct transections except for Cryptocurrencies and specifically bitcoin.Russia is also interested in cinducting payments via bitcoin and also, It is good for the bitcoin community.Because countries like russia adopting bitcoin at an international level to conduct international payments will give a boost to the adoption of bitcoin.It will change the oil-age perception of other countriesof the BRICS BLOC as well.

As far as I know, the main calculations are done through USDT. Bitcoin's price fluctuates, but USDT's price remains constant.

[coupable]

As far as I know, the main calculations are done through USDT. Bitcoin's price fluctuates, but USDT's price remains constant.

It becomes the dream of many Putin fans that Russia can overpass the west sanctions by using bitcoin. Their dream extends at the point they think bitcoin will boost the BRICS foundation since Russia is in need for it. However i am in the Russian side in this war against the west, but i find those assumptions far from reality. Russia has no intentions to adopt bitcoin or any other cryptocurrency, just like the rest of the world who treat cryptocurrencies as a threat.

[zasad@]

As far as I know, the main calculations are done through USDT. Bitcoin's price fluctuates, but USDT's price remains constant.

It becomes the dream of many Putin fans that Russia can overpass the west sanctions by using bitcoin. Their dream extends at the point they think bitcoin will boost the BRICS foundation since Russia is in need for it. However i am in the Russian side in this war against the west, but i find those assumptions far from reality. Russia has no intentions to adopt bitcoin or any other cryptocurrency, just like the rest of the world who treat cryptocurrencies as a threat.

The well-known company Chainalysis writes about Russia's successful evasion of sanctions; the link is above in my post.

My colleague, who deals with foreign trade and imports many goods into Russia that are prohibited by sanctions, talks to his partners not about his love for the president, but about business.

Let's assume the average profit margin is 10-20% when selling goods. Sanctions prohibit the import of goods into Russia and, accordingly, increase the profits of businessmen who import goods from 20% to 100% or 200% or more.

There are no sides or admirers. This is an opportunity for European and American companies to earn huge profits.
The 19th European sanctions package includes the company A7A5 and banks through which companies can purchase cryptocurrency to pay suppliers for goods, but this changes nothing.

The only effect of the sanctions is that the prices of sanctioned goods have increased by 100-200%.

[coupable]

As far as I know, the main calculations are done through USDT. Bitcoin's price fluctuates, but USDT's price remains constant.

It becomes the dream of many Putin fans that Russia can overpass the west sanctions by using bitcoin. Their dream extends at the point they think bitcoin will boost the BRICS foundation since Russia is in need for it. However i am in the Russian side in this war against the west, but i find those assumptions far from reality. Russia has no intentions to adopt bitcoin or any other cryptocurrency, just like the rest of the world who treat cryptocurrencies as a threat.

The well-known company Chainalysis writes about Russia's successful evasion of sanctions; the link is above in my post.

My colleague, who deals with foreign trade and imports many goods into Russia that are prohibited by sanctions, talks to his partners not about his love for the president, but about business.

Let's assume the average profit margin is 10-20% when selling goods. Sanctions prohibit the import of goods into Russia and, accordingly, increase the profits of businessmen who import goods from 20% to 100% or 200% or more.

Let me first ask you about this point; businessmen who used to sell their goods in Russia for 10-20% average profit margin, how would they make 100% or 200% or more, if the sanctions forbid them to sell anything in Russia + banning Russia from SWIFT? Unless you are talking about only Indian and Chineese businessmen, the rest of the world can't easily make trades with Russia. Maybe i am missing details about the sanctions so i am asking to verify.

[zasad@]

As far as I know, the main calculations are done through USDT. Bitcoin's price fluctuates, but USDT's price remains constant.

It becomes the dream of many Putin fans that Russia can overpass the west sanctions by using bitcoin. Their dream extends at the point they think bitcoin will boost the BRICS foundation since Russia is in need for it. However i am in the Russian side in this war against the west, but i find those assumptions far from reality. Russia has no intentions to adopt bitcoin or any other cryptocurrency, just like the rest of the world who treat cryptocurrencies as a threat.

The well-known company Chainalysis writes about Russia's successful evasion of sanctions; the link is above in my post.

My colleague, who deals with foreign trade and imports many goods into Russia that are prohibited by sanctions, talks to his partners not about his love for the president, but about business.

Let's assume the average profit margin is 10-20% when selling goods. Sanctions prohibit the import of goods into Russia and, accordingly, increase the profits of businessmen who import goods from 20% to 100% or 200% or more.

Let me first ask you about this point; businessmen who used to sell their goods in Russia for 10-20% average profit margin, how would they make 100% or 200% or more, if the sanctions forbid them to sell anything in Russia + banning Russia from SWIFT? Unless you are talking about only Indian and Chineese businessmen, the rest of the world can't easily make trades with Russia. Maybe i am missing details about the sanctions so i am asking to verify.

I will explain it to you, but I think you will not like it, because the information I tell you will contradict what the governments tell you on TV.
Firstly, sanctions are being successfully circumvented. This is one well-known case, but how many such people are still working?
https://bitcointalk.org/index.php?topic=5542218.msg65476205#msg65476205

To put it very simply, sanctioned goods from Europe and the US are shipped to other countries, then the documents are swapped in those other countries and the goods end up in Russia.
Some countries lose money, others make money. An additional 100-200% of the profits are distributed among all supply participants.

My partner has a manufacturing facility that uses materials prohibited by European sanctions. He pays + 120% of the European price for these materials, and cargo companies deliver them directly to his facility. That's how European sanctions work in Russia.
The only downside is that delivery times are now 2-3 months.

[coupable]

As far as I know, the main calculations are done through USDT. Bitcoin's price fluctuates, but USDT's price remains constant.

It becomes the dream of many Putin fans that Russia can overpass the west sanctions by using bitcoin. Their dream extends at the point they think bitcoin will boost the BRICS foundation since Russia is in need for it. However i am in the Russian side in this war against the west, but i find those assumptions far from reality. Russia has no intentions to adopt bitcoin or any other cryptocurrency, just like the rest of the world who treat cryptocurrencies as a threat.

The well-known company Chainalysis writes about Russia's successful evasion of sanctions; the link is above in my post.

My colleague, who deals with foreign trade and imports many goods into Russia that are prohibited by sanctions, talks to his partners not about his love for the president, but about business.

Let's assume the average profit margin is 10-20% when selling goods. Sanctions prohibit the import of goods into Russia and, accordingly, increase the profits of businessmen who import goods from 20% to 100% or 200% or more.

Let me first ask you about this point; businessmen who used to sell their goods in Russia for 10-20% average profit margin, how would they make 100% or 200% or more, if the sanctions forbid them to sell anything in Russia + banning Russia from SWIFT? Unless you are talking about only Indian and Chineese businessmen, the rest of the world can't easily make trades with Russia. Maybe i am missing details about the sanctions so i am asking to verify.

I will explain it to you, but I think you will not like it, because the information I tell you will contradict what the governments tell you on TV.
Firstly, sanctions are being successfully circumvented. This is one well-known case, but how many such people are still working?
https://bitcointalk.org/index.php?topic=5542218.msg65476205#msg65476205

To put it very simply, sanctioned goods from Europe and the US are shipped to other countries, then the documents are swapped in those other countries and the goods end up in Russia.
Some countries lose money, others make money. An additional 100-200% of the profits are distributed among all supply participants.

My partner has a manufacturing facility that uses materials prohibited by European sanctions. He pays + 120% of the European price for these materials, and cargo companies deliver them directly to his facility. That's how European sanctions work in Russia.
The only downside is that delivery times are now 2-3 months.

In fact, I find this very reasonable and quite plausible because, on one hand, I know how much the importance of Russian products to the global market, and on the other hand, the importance of the Russian market to many sectors that cannot do without it overnight.

What caught my attention recently after a new package of sanctions was imposed again on Russia, is that among those sanctions imposed by the Europeean Union was a ban on importing liquefied gas from Russia to Europe, when I had imagined that these imports had already stopped since the first weeks of the invasion of Ukraine.

[zasad@]

In fact, I find this very reasonable and quite plausible because, on one hand, I know how much the importance of Russian products to the global market, and on the other hand, the importance of the Russian market to many sectors that cannot do without it overnight.

What caught my attention recently after a new package of sanctions was imposed again on Russia, is that among those sanctions imposed by the Europeean Union was a ban on importing liquefied gas from Russia to Europe, when I had imagined that these imports had already stopped since the first weeks of the invasion of Ukraine.

I can give you more information.
According to official Gazprom data, Russia stopped supplying gas to Europe via Ukraine on January 1, 2025. Before that, Gazprom paid Ukraine for the service of pumping gas to Europe. War is war, and business is business.

Read the press; many articles have already been written about how Russian gas and oil become Chinese, African, and Asian, and then end up in Europe. Large global companies are making billions from this, while ordinary people in Europe pay very high prices for gas.

[coupable]

In fact, I find this very reasonable and quite plausible because, on one hand, I know how much the importance of Russian products to the global market, and on the other hand, the importance of the Russian market to many sectors that cannot do without it overnight.

What caught my attention recently after a new package of sanctions was imposed again on Russia, is that among those sanctions imposed by the Europeean Union was a ban on importing liquefied gas from Russia to Europe, when I had imagined that these imports had already stopped since the first weeks of the invasion of Ukraine.

I can give you more information.
According to official Gazprom data, Russia stopped supplying gas to Europe via Ukraine on January 1, 2025. Before that, Gazprom paid Ukraine for the service of pumping gas to Europe. War is war, and business is business.

Read the press; many articles have already been written about how Russian gas and oil become Chinese, African, and Asian, and then end up in Europe. Large global companies are making billions from this, while ordinary people in Europe pay very high prices for gas.

When you see the scene in Europe today, it's quite easy to conclude that Europe is the main loser in this war. In front of the world, it should support Ukraine so Russia won't extend its operations to other european regions (supported by USA). And from another side, it can't curb economically with Russia.
Back to summer 2022 few months after the invasion, I remember the international media talked about Europe builds Liquified gaz stations everywhere to get rid of the Russian gaz. But in reality (out from media lies), this is almost impossible. And we heard later about Turquie plays the role to help export Russian goods to the global market including european markets. Turquie made a fortune out of that.

[zasad@]

In fact, I find this very reasonable and quite plausible because, on one hand, I know how much the importance of Russian products to the global market, and on the other hand, the importance of the Russian market to many sectors that cannot do without it overnight.

What caught my attention recently after a new package of sanctions was imposed again on Russia, is that among those sanctions imposed by the Europeean Union was a ban on importing liquefied gas from Russia to Europe, when I had imagined that these imports had already stopped since the first weeks of the invasion of Ukraine.

I can give you more information.
According to official Gazprom data, Russia stopped supplying gas to Europe via Ukraine on January 1, 2025. Before that, Gazprom paid Ukraine for the service of pumping gas to Europe. War is war, and business is business.

Read the press; many articles have already been written about how Russian gas and oil become Chinese, African, and Asian, and then end up in Europe. Large global companies are making billions from this, while ordinary people in Europe pay very high prices for gas.

When you see the scene in Europe today, it's quite easy to conclude that Europe is the main loser in this war. In front of the world, it should support Ukraine so Russia won't extend its operations to other european regions (supported by USA). And from another side, it can't curb economically with Russia.
Back to summer 2022 few months after the invasion, I remember the international media talked about Europe builds Liquified gaz stations everywhere to get rid of the Russian gaz. But in reality (out from media lies), this is almost impossible. And we heard later about Turquie plays the role to help export Russian goods to the global market including european markets. Turquie made a fortune out of that.

There are 27 countries in the European Union, and I wouldn't say all of them are losing. Many countries are playing a double game and reaping handsome profits.
All wars end, but business never ends. Therefore, smart leaders think with the future in mind.
Converting all of Europe to liquefied natural gas would require enormous investments. But the funniest thing about this situation is that Russian gas will still be supplied to Europe, but only through intermediaries. The reason is simple: Russian gas is closer and cheaper