Coin-Turk 4 minutes ago
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Recently, Russia confirmed a shift in its economic strategy by focusing on Bitcoin 
$98,290 and other cryptocurrencies. According to Finance Minister Anton Siluanov, Russian companies have begun using BTC and other digital currencies in foreign trade following recent legal regulations. This move comes in the wake of the country’s ban on BTC mining in six regions until 2031, providing a silver lining after a series of unfavorable news.
Russia Adopts Bitcoin and Crypto Assets
To tackle economic challenges posed by Western sanctions, Russia is leveraging Bitcoin and other cryptocurrencies. Minister Siluanov stated that digital currencies are being utilized in international trade and anticipates an increase in this usage by 2024. This strategic pivot followed regulatory changes that allowed the use of cryptocurrencies in foreign trade.
President Vladimir Putin criticized the politicization of the U.S. dollar, emphasizing that countries must turn to alternative assets like Bitcoin. He underscored Bitcoin’s decentralized structure as a safeguard against external regulatory interventions.
These developme…
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