myAIPMAccording to the author it is doubtful that crypto will save Russia from sanctions. Even apart from the huge task of establishing the necessary facilities within Russian banks, many of the people and institutions that would be receiving the crypto would need to set up wallets of their own. Besides that, daily transaction values in crypto only amount to a few billion dollars. This is a big number, but an order of magnitude less than the overall financial system. If Russia were to seriously start using crypto for payments, the market is not yet mature enough to cope.
To read the full text of the article click here.
Brown, G. (2022). Crypto is helping both sides in Ukraine conflict, but here’s why it won’t wreck Russian sanctions. The Conversation.