"We are still against cryptocurrencies being used for transactions within the country," said the head of the Central Bank Elvira Nabiullina recently. "That is, in foreign economic activity - yes... But we are against it being used as a means of payment."
At the same time, even before the experimental legal regime appeared (the results of its operation have not been reported), Nabiullina acknowledged that the Central Bank has effectively "softened its position on the use of cryptocurrencies in international payments." 🥺🥺
It is difficult to prevent the use of cryptocurrencies, but the sanctions coalition regularly makes such attempts. The 18th package of EU sanctions is expected to include restrictions against two Chinese banks that provided Russian clients with "services related to cryptocurrency assets."
In the spring, the US and Germany succeeded in blocking the Russian cryptocurrency exchange Garantex ("Federation" in Moscow City) and freezing assets worth over $26 million - on charges of circumventing sanctions and money laundering.
