Russia Accelerates Crypto Payments to Evade Sanctions
Russia is developing a crypto payments system to facilitate international trade amidst sanctions, with a focus on mitigating transaction risks and maintaining domestic crypto restrictions.

Russia is developing a crypto payments system to facilitate international trade amidst sanctions, with a focus on mitigating transaction risks and maintaining domestic crypto restrictions.
The company has also named Leon Marshall as its Europe CEO.
Crypto lender Celsius Network is undergoing the auction of its assets as part of the bankruptcy proceedings.
"Either Galaxy owes BitGo a $100 million termination fee as promised or it has been acting in bad faith and faces damages of that much or more," said R. Brian Timmons.
After selling 887 Bitcoin in July, Argo cut its outstanding balance under the BTC-backed loan to just $6.72 million.
Moscow has taken an aggressive stance on digital assets after the invasion of Ukraine sparked a strong Western response in the form of sanctions.
Moscow has adopted a positive stance toward digital assets after its invasion of Ukraine triggered a sharp response from Western nations in the form of sanctions.
A few months ago, Russia’s central bank proposed a blanket ban on cryptocurrency trading and mining. In its warning at the time, the central bank highlighted that cryptocurrency mining poses significant risks to the country’s economic and financial stability. However, President Putin appeared to disagree after a wave of sanctions hit Russia, saying Russia has vast energy wealth and expertise in the field.
Goldman Sachs and Galaxy Digital are once again teaming up to help their clients gain more access to the crypto industry, which Galaxy Digital certainly provides.
The acquisition is scheduled to follow Galaxy's domestication in Delaware, which is expected to become effective between Q2 and Q4 of 2022.