Crypto Transactions Continue in Russia Despite Sanctions

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The Street

By Rob Lenihan The average trade size bitcoin-ruble trade size remains relatively small, suggesting mostly retail users are driving the current high volumes. Cryptocurrency transactions are still occurring in Russia despite a sweeping wave of sanctions imposed in response to the invasion of Ukraine. The research firm Kaiko recently tracked trading of bitcoin and the ruble and bitcoin and the hryvnia, Ukraine’s currency. ‘Crypto Industry Remains in a Tight Place’The average bitcoin-ruble and bitcoin hryvnia trade size converted into U.S. dollars on Binance spiked following Russia’s invasion of …

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