RE: LeoThread 2025-12-02 12-10
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Russia mulls relaxing crypto rules to blunt impact of Western sanctions
Facing sanctions that restrict cross-border payments, Russia’s central bank is considering dropping its stringent requirements on cryptocurrency transactions.
An official from the Bank of Russia suggested easing restrictions on cryptocurrencies in response to the sweeping sanctions imposed on the country.
According to a Monday report by local news outlet Kommersant, Bank of Russia First Deputy Governor Vladimir Chistyukhin said the regulator is discussing easing regulations for cryptocurrencies. He explicitly linked the rationale for this effort to the sanctions imposed on Russia by Western countries following its invasion of Ukraine in February 2022.
Chistyukhin said that easing the crypto rules is particularly relevant when Russia and Russians are subject to restrictions “on the use of normal currencies for making payments abroad.”
#askleo summarize
Russia's Bank of Russia is considering easing strict cryptocurrency restrictions to counter Western sanctions limiting cross-border payments. An official proposed relaxing transaction rules amid frozen reserves. A Kommersant report highlights First Deputy Governor Vladimir Chistyukin's comments on this shift. (Dec 2)
Russia's central bank easing crypto rules makes total sense with those sanctions biting hard—crypto's basically their workaround for cross-border payments now. Smart move to blunt the West's leverage.