🔠ussia🇷🇺: Central Bank Highlights Increase in Crypto Activity Among Citizens

🔠ussia🇷🇺: Central Bank Highlights Increase in Crypto Activity Among Citizens

According to a report from the Bank of Russia, several trends were observed between the fourth quarter of 2023 and the first quarter of 2024 that financial organizations should be aware of. These calculations were made using a tool called "Transparent Blockchain".

➡️ The web traffic of Russian users on cryptocurrency sites increased by 16.4%. Notably, the Bank of Russia does not publish the list of sites it is monitoring.

➡️ "Potentially related" transactions involving Russian citizens during the same period amounted to more than $50.2 billion USD. Analysts noted that this includes not only cryptocurrency operations but also P2P payments, money transfers, and "payments for goods and services".

➡️ Russians made a total of 104.6 million visits to exchanges and P2P sites.

➡️ The average monthly number of unique Russian IP addresses on "major cryptocurrency exchanges" also increased by 15.1%. This indicates that 7% of all traffic on these sites comes from Russia.

➡️ Russians remain interested in high-capitalization crypto assets, such as BTC and ETH. They also prefer USD-pegged stablecoins — USDT and USDC.

To get a complete picture, we should not forget that some foreign companies block payments subject to sanctions, and OFAC and its allies are not resting.

#news #Russia #crypto

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