Discover the persistence of unverified Russian crypto exchanges amidst regulatory pressures. Learn about the impact of U.S. and international sanctions.
According to a report by Chainalysis, unverified Russian digital currency exchanges continue to operate despite recurring crackdowns. Over 100 unverified Russian platforms were active in 2024, with a total transaction volume exceeding $1.5 billion. These platforms often collaborate with sanctioned Russian banks and typically lack legal registration details. However, the decrease in incoming flows to these exchanges indicates the impact of U.S. and international sanctions. Recently, the Russian communications regulator blocked access to BestChange, one of the largest off-exchange transaction aggregators in Eastern Europe.
