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Russia’s crypto payments are being explored for grain exports right now as the Russian Agricultural Bank works with the central bank to assess cryptocurrency settlements. This crypto sanctions evasion strategy aims to bypass Western financial restrictions through cryptocurrency grain trade systems. It also addresses blockchain payment risks while enabling crypto trade with Russia partners to continue agricultural commerce at the time of writing. Also Read: Kazakhstan Unveils First ‘CryptoCity’, Full Crypto Payments Enabled How Crypto Powers Russia’s Grain Trade And Dodges Sanctions Risks Source: Watcher.Guru Agricultural Bank Announces Crypto Assessment The Russian Agricultural Bank announced on June 2, 2025, its collaboration with the Bank of Russia to evaluate digital assets for grain settlements. Russia’s crypto payments initiative represents a significant expansion into agricultural commodities following successful oil transaction precedents. Cryptocurrencies may ...

BRICS member Russia is heavily diversifying its foreign exchange reserves by replacing the US dollar with gold. As of March 2025, gold makes up 34.4% of Russia’s foreign exchange reserves and is worth $217.4 billion. The Central Bank of India is massively accumulating the precious metal to safeguard its economy from market turmoil. Also Read: BRICS: Analyst Reveals If the US Dollar Can Maintain Its Dominance Russia is just one among the BRICS nations that has been aggressively buying gold since 2022. Its counterparts China, India, and Brazil have also been accumulating the glittery metal for 36 months. The developing countries are looking to sideline the US dollar for foreign exchange reserves as the currency comes with the risk of debt. If the market crashes, holding the US dollar becomes a financial burden and weakens their respective economy. Therefore, BRICS members are turning towards gold and other local currencies to distance themselves from the threat of acquiring debt. If...

The U.S. proposed G7 to confiscate $300 billion in Russia n assets in December 2023. The move was implemented to crush Russia ’s ability to grow stronger in the war against Ukraine. The $300 billion in Russia n assets that G7 froze were in the form of bonds, cash, and other assets. Now that G7 successfully froze $300 billion in Russia n assets, where did all the money go? Who holds the major part of it and where is it held currently? In this article, we will highlight what the U.S. and G7 did with the billions worth of frozen Russia n assets. Also Read: BRICS Gold-Backed Currency to Launch at 2024 Summit? Who Holds $300 Billion in Frozen Russian Assets: G7 or the U.S.? Source: Moneycontrol Much debate was made about what to do with the $300 billion frozen Russia n assets by G7 and the U.S. Once frozen, it remains clear that the money will not go back to Russia , and G7 and the U.S. will have to decide what to do with it. Also Read: Petrodollar Died This Month, Not the US Dol...

Tether announced on April Fool’s Day that it had completed an audit — unfortunately, it was a security audit, not a financial audit, the results were not shared publicly, and the positive news came on the heels of a WSJ article implicating the stablecoin in the Russian acquisition of weapons for its ongoing war in Ukraine. A press release states that Tether , which has taken to proclaiming itself “the largest company in the cryptocurrency industry” over the past month, has complete d an audit “ensuring that Tether had robust IT control measures in place to make sure their systems were safe.” It did not bother to explain how over $30 million worth of USDT was somehow hacked and moved in 2017. Tether audit comes with good and really bad news While any audit that Tether can complete is undoubtedly good news, the security audit was announced shortly after a highly critical WSJ article that detailed the use of USDT by Vladimir Putin’s regime to purchase weapons and ammunition....

Russia’s Finance Ministry along with the Central Bank of Russia will propose several new financial initiatives to BRICS. The proposal aims to improvise and change the international monetary and global financial system as we know it. Russia will particularly focus on creating a new digital BRICS Bridge payment platform which will be a multisided option to the US dollar. The development is currently in draft and could be proposed at the next summit in October 2024. Also Read: 25 Countries On The Waitlist To Join BRICS The proposal will not only create a new BRICS digital platform but will also contain a set of financial initiatives and recommendations. The multisided digital payment platform aims to grow as an alternative settlement without the need for the US dollar. Russia will take the first step of de-dollarization by convincing the bloc to accept a new BRICS Bridge payment platform. Read here to know how many sectors in the US will be affected if BRICS ditches the do...

Blockchain analysts warn of growing cooperation between Russia-based crypto exchanges and North Korea-linked hacking groups. Democratic People’s Republic of Korea hacker groups have been actively using Russia-based exchanges to launder crypto since 2021, as strict international monitoring of North Korea’s on-chain crimes limits the country’s possibilities of an enrichment capability. According to Chainalysis, a blockchain forensics firm, North Korean hacker groups are now “increasing their use of Russia-based exchanges” to launder crypto stolen from centralized exchanges or decentralized finance protocols. You might also like: North Korea linked to latest crypto hacks, surpassing $270m In a blog post on Sept. 14, the New York-based firm wrote that almost $22 million in crypto stolen from Harmony Protocol — a blockchain protocol exploited for roughly 100 million in crypto in Jun. 2022 — was recently transferred to a Russia-based exchange “...