Sanctions Backlash Builds

Western governments could interpret regulated Russian crypto custody as a channel for sanctions circumvention, especially because Sberbank remains under heavy restrictions. The near-term effect would be more compliance pressure on exchanges, stablecoin issuers, and blockchain analytics firms dealing with Russian-linked wallets.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.