Despite international efforts to stabilize encryption in Russia (get to know the customer), new platforms continue to appear, to replace them.
A a report Through the Blockchain series, it highlights that although the total flows of these platforms have decreased, exchanges with the new Russian language are on the surface to facilitate transactions outside the traditional financial control.
source: Chainanalysis
With the registration of more than $ 1.5 billion of transactions registered in 2024 alone, these platforms operate without official registration, making it difficult for organizers to determine their competence.
The campaign, led by the American authorities and international financial agencies, led to some turmoil, but this industry has not been eliminated.
Instead, Russian users turn alternative methods, which enhances the flexibility of the No-Kyc market.
The new exchanges appear with the continued presence of organizational gaps
The rise in non -registered stock exchanges in Russia indicates the ongoing organizational gaps.
Chainalysis found that more than 100 such platforms were operating in 2024, serving the base of users preferring unknown transactions.
These platforms work closely with the approved Russian banks, allowing them to overcome the restrictions imposed by international financial institutions.
In early February, the Russian communications organizer, Roskomnadzor, prevented Bestchang, a main complex above the prescription (OTC) used in encryption transactions.
This step was part of the broader efforts after a new law that restricts bitcoin mining and advertising encryption.
The law specifically targets ads that enhance the assets and digital services that facilitate the transfers of encryption using Russian infrastructure.
The little Bestchang closure did to deter merchants, who quickly moved to alternative platforms.
Unlike the exchanging encryption exchange, the No-Kyc platforms do not require users to check their identity, allowing them to make transactions without linking them with personal data.
Penalties affect flows, but they fail to stop illegal transactions
The sanctions of the United States and the European Union have successfully succeeded in reducing the total flows to Russian exchanges that are not less than KYC, but the transactions are still ongoing.
The Russian encryption market has been active due to domestic demand, especially from users who evade capital controls or use digital assets for cross -border payments.
According to serial analysis, the decrease in flows indicates that enforcement measures have an effect, but new exchanges continue to appear, and the gaps left behind by those who are eaten in non -communication mode are often filled.
Many of these platforms act as an counterpart network (P2P), allowing users to trade directly with each other, which reduces the need for central control.
Anxiety is the role of Russian financial institutions in enabling these transactions.
According to what has been cooperated by many NO-Kyc platforms with the approved banks, and the treatment of encryption payments despite international restrictions.
This has led to further scrutiny from the organizers, who are now focusing on identifying financial institutions that support these platforms.
Collecting data raises security risks to Russian slave
While the Russian authorities claim that they tighten controls on encryption activities, their efforts have raised concerns among local bitcoin miners.
A new government record presented in early 2024 miners requires sensitive data, including portfolio addresses, to organizational bodies.
Russian legislator Anton Gorlkin warned that if this data is leaked, it may be a “great gift” for geopolitical competitors.
Miners are afraid that the authorities will be able to use the data collected for the campaign or monitoring, and deter individuals and companies from engaging in mining operations inside Russia.
The data collection voltage comes at a time when Russia expands its focus on digital assets as an alternative financial channel.
With the tightening of traditional banking restrictions, the Russian government explores ways to integrate encryption into its economic strategy while maintaining control of local activity.
The post Why the Russian NO-Kyc encryption exchange for encryption despite the appearance of the first campaign on Invezz
