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.