Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
The number of Russian-language crypto exchangers has grown to record levels in 4 years

The number of Russian-language crypto exchangers has grown to record levels in 4 years

HappyCoinNewsHappyCoinNews2025/02/21 14:22
By:HappyCoinNews

Chainalysis calculated that in 2024, the number of Russian-language crypto exchanges without verification procedures (KYC) reached its maximum value in four years, although their overall turnover is declining.

Analysts reported that Russia has entered the list of the largest cryptocurrency markets, and Russian banks have stepped up their efforts to create mechanisms for foreign trade settlements in cryptocurrencies in order to circumvent sanctions.

In addition, experts noted that in 2024, foreign regulators stepped up measures against cryptocurrency services that, according to them, bypass sanctions restrictions. For example, during Operation Final Exchange, German authorities blocked the websites of 47 Russian-language crypto exchangers that operated without a customer verification procedure (KYC).

In addition, several Russian-language platforms accused of serving sanctioned companies or cybercriminals were sanctioned.

In their report, the analysts indicated that the total volume of cryptocurrency transactions with sanctioned entities, including Russia, Iran and crypto mixers like Tornado Cash, amounted to 2024% of all transactions in 39, with a volume of $15,8 billion.

As economic pressure mounts, sanctioned states are increasingly turning to crypto assets to support trade and access to capital, experts say.

EN @happycoinnews
EN @happycoinnews_en
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!