Sanctions? Russia is now using bitcoin for international trade
Can one be a staunch crypto backer and a supporter of U.S. dollar supremacy? That stance could become a dilemma for President-elect Donald Trump, who has touted both goals for his next administration.
Putin follows Trump’s bitcoin embrace. Can crypto help Russia evade sanctions?
The Russian government has been a historic opponent of bitcoin, banning its use for domestic payments, but has recently come to see the potential benefits of virtual currencies for evading U.S. and Western sanctions.
Russia is using bitcoin in foreign trade, finance minister says
Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.
Sanctions-hit Russia turns to cryptocurrencies for international trade
Russia is increasingly adopting cryptocurrencies for international payments to counter Western sanctions and reduce dependence on the US dollar. Recent legislative changes have legalized the use of digital currencies in foreign trade.
Russia Turns to Bitcoin: A New Era of Sanction-Proof Trade?
Facing crippling sanctions, Russia is turning to cryptocurrency to keep its global trade alive. With Bitcoin now fully legal for international payments in Russia, President Putin has embraced it as a compelling alternative to traditional finance.
Russia’s Strategic Shift to Bitcoin for International Trade
Russian Finance Minister Anton Siluanov has confirmed that Bitcoin is being used by the country for international trade, highlighting its potential to reduce reliance on traditional payment systems such as the U.
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