CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
coinpedia 2024-12-26 05:04:32

Russia Embraces Bitcoin for Foreign Trade Amid Sanctions

The post Russia Embraces Bitcoin for Foreign Trade Amid Sanctions appeared first on Coinpedia Fintech News Russia has begun using Bitcoin and other cryptocurrencies for international trade following legislative changes to counter Western sanctions, Finance Minister Anton Siluanov revealed. These measures include legalizing cryptocurrency mining and transactions in foreign exchange, positioning Russia as a global Bitcoin mining leader. Siluanov emphasized that such digital payments represent the future and are already in use, with expansion plans. President Vladimir Putin criticized the U.S. dollar’s dominance, advocating for alternative assets like Bitcoin. This change shows Russia’s move to use cryptocurrencies to support its trade as it faces more global challenges.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.