A7A5 Stablecoin Loses Ruble Peg After Sanctions from US & UK

The Kyrgyz-issued A7A5 stablecoin lost its peg to the Russian ruble after it was targeted by new sanctions imposed by the U.S. and the U.K. The decision comes amid suspicions that the stablecoin is being used to circumvent Western sanctions related to Russia’s war in Ukraine. Following a sudden price drop, A7A5’s team announced they will replace their smart contract with a new one to ensure fair and accurate pricing.