Last week, Putin made a statement at an AI conference suggesting Russia should host an international crypto payments system.

Russia is planning to use digital currencies for international trade, likely due to the restrictions of foreign sanctions.

Russian President Vladimir Putin signed a bill that prohibits crypto payments in exchange for goods and services.

Due to the UAEs lack of a strong position in the Russian-Ukrainian conflict, Russians are moving crypto to the UAE to buy real estate.

Russia citizens are fleeing to Bitcoin as a cash safehaven, buying BTC at $20k above market value, while BTC has passed the Ruble.

After the Russian invasion of Ukraine, the Ukrainian government requested direct donations in the form on cryptocurrencies and so far have raised ~$18M.