Russia is using bitcoin in foreign trade, says finance minister
MOSCOW: 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 have complicated Russia’s trade with its major partners such as China or Turkey, as local banks are extremely cautious with Russia-related transactions to avoid scrutiny from Western regulators.
This year, Russia permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including bitcoin. Russia is one of the global leaders in bitcoin mining. “As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions),” Siluanov told Russia 24 television channel.
-
ASAP Rocky Recalls 'embarrassing' First Meeting With Rihanna -
Archie, Lilibet’s Chances At Meeting King Charles Get Promising Update: Here’s Why -
Claire Foy Shares Rare Views On Typecasting Amid New Gig -
Britney Spears Raves About Madonna In New Social Media Post -
Hailey Bieber Shares Sweet Snap Of Husband And Baby -
Therapist Killed In Office As Former Client Launches Knife Attack -
Gaten Matarazzo Brands 'Stranger Things' Final Scene 'nerve-racking' -
David Beckham Speaks Out After Son Brooklyn Beckham's Shocking Post -
Sophie Turner Gets Candid About 'imposter Sydrome' Post 'GOT' -
When Nicola Peltz's Boyfriend Anwar Hadid Found Solace In Dua Lipa's Arms -
Claire Foy Reveals Rare Impact Of 'The Crown' Gig On Career -
Megan Thee Stallion Teases New Music On The Way -
Blonde Kate Stuns In Photos With Prince William During Rare Joint Engagement -
Kate Gosselin Reveals Harrowing Moment Thief Nearly Took Her Down -
Billy Bob Thornton Weighs In On Contrast To 'Landman' Role -
Amanda Holden May Swap Position To Different Reality Show: See Which