Bitcoin for cross-border crypto payments in Russia? Highly unlikely.
As the world’s most decentralized cryptocurrency, Bitcoin might look more suitable in such a context, but BTC is also associated with a number of issues like high volatility, limited scalability as well as a vulnerability to global sanctions. “Whole arrays of addresses may fall under the sanctions when interacting with which the coins will be considered"dirty" and counterparties may choose not to make transactions with such addresses or coins,” Davydov noted.
The CEO also expressed hope that Russian regulators would have enough courage to allow foreign economic activity with the participation of “at least U.S. dollar stablecoins on major blockchains.” Mendeleev stressed that InDeFi Smart Bank A good example might be Iran, which is under United States sanctions, Davydov suggested, referring to Iran’s Industry, Mines and Trade Ministry
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