Russia is creating a crypto-shadow economy: Chainalysis reports that Russia has deployed a transaction system using the ruble-backed cryptocurrency A7A5 — over $51 billion has been transferred through this scheme. A7A5 and related exchanges — Garantex and Grinex — are used to circumvent sanctions. The issuance of A7A5 is carried out by the Kyrgyz company Old Vector with the support of the Russian Promsvyazbank.
