A report finds that Russia and Iran are increasingly turning to cryptocurrencies, particularly stablecoins, to circumvent imposed economic sanctions. These actors are exploiting the decentralized and often opaque nature of crypto markets to bypass restrictions and continue financial operations despite international sanctions. The increase in crypto usage for sanctions evasion demonstrates the evolving tactics of sanctioned states to sustain economic activities outside traditional banking systems. The report highlights this shift in the context of broader sanctions challenges faced by Russia and Iran.

A report finds that Russia and Iran are increasingly turning to cryptocurrencies, particularly stablecoins, to circumvent imposed economic sanctions. These actors are exploiting the decentralized and often opaque nature of crypto markets to bypass restrictions and continue financial operations despite international sanctions. The increase in crypto usage for sanctions evasion demonstrates the evolving tactics of sanctioned states to sustain economic activities outside traditional banking systems. The report highlights this shift in the context of broader sanctions challenges faced by Russia and Iran.