How A7A5, The Ruble-Backed Token, and Grinex, the Garantex Rebrand Sanctioned by OFAC, Enable The Russian Crypto Economy
TL;DR A7A5 is a Russian ruble-backed token issued by the Kyrgyzstani company Old Vector, which was sanctioned today. It is backed by deposits at sanctioned Russian bank Promsvyazbank (PSB) and has seen significant trading volume increases since inception, processing over $51.17 billion. Grinex, which was also designated by OFAC in today’s action, has been the…
