Here’s How Russians Dodge Sanctions to Use Int’l Crypto Exchanges
1. Use a VPN: Many Russians living abroad use a virtual private network (VPN) to mask their IP address, allowing them to use foreign cryptocurrency exchanges that may be blocked in their home country.
2. Make international payments: Russians can top up their accounts on local exchanges through international payment processing services, such as WebMoney, that aren’t sanctioned by the government.
3. Use indirect accounts: International exchanges may allow users to trade indirectly through the use of other accounts. For example, a Russian investor can open an account with a Lithuanian brokerage and use it to trade on foreign exchanges.
4. Use friends and family: Some Russians use friends or family members abroad to buy bitcoin for them on the international market. These individuals may hold and manage the cryptocurrency on behalf of the investor.