Russia's recent enthusiasm for cryptocurrencies has multiple reasons behind it. Let's analyze them one by one:

The shackle of sanctions: China has imposed a series of severe financial sanctions on Russia, like a sharp sword hanging over the Russian economy. This has made it difficult for Russia to move forward in international financial transactions. Especially when Russian companies try to use RMB for payment, Chinese financial institutions have rejected about 80% of the transaction settlement requests for various reasons. This undoubtedly puts Russia under unprecedented pressure and forces them to find a new way out.

Economic winter: Looking at the economic data again, in the first half of this year, Russia's total imports fell by 9% compared with the same period last year. Even imports from China have shown negative growth, which undoubtedly worsens Russia's economic situation. Against this background, Russia urgently needs to find new economic growth points and stable financial transaction methods.

Determination to get rid of the US dollar: Russia has long been trying to reduce its dependence on China. They are well aware that China's dominant position in the international financial system often puts other countries in a passive position in international trade and financial exchanges. The emergence of cryptocurrency provides Russia with an opportunity to bypass the international financial system dominated by China. It allows Russia to trade directly with other countries without the need to transit through MG, thus reducing the risk of sanctions.

In summary, Russia's enthusiasm for cryptocurrency is not groundless, but stems from the sanctions pressure, economic difficulties and firm determination to de-dollarize it. In this context, cryptocurrency has become an important tool for Russia to seek economic independence and financial autonomy. #美联储何时降息？ #俄罗斯挖矿合法化 #以太坊基金会