CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2024-12-25 13:53:31

Russia Turns to Bitcoin to Fight Sanctions

The post Russia Turns to Bitcoin to Fight Sanctions appeared first on Coinpedia Fintech News Russia is shaking things up. Faced with mounting sanctions and struggling trade routes, the country is turning to Bitcoin and other digital currencies. This move isn’t just about innovation—it’s survival. With sanctions squeezing traditional payment systems, Russia wants to keep trade alive, no matter what. What’s the Bitcoin Plan? In July, Russia passed a major law legalizing cryptocurrency for international payments . It’s a big deal. The goal? To sidestep sanctions and keep goods moving with countries like China and Turkey. Finance Minister Anton Siluanov says this isn’t just a plan on paper—companies are already using Bitcoin to settle deals. And it’s not just Russia doing this. Iran has been using mined Bitcoin to dodge sanctions for years. Russia seems to be borrowing a page from their playbook, hoping digital currencies can provide some much-needed breathing room. Officials even predict crypto demand will skyrocket next year as more businesses get on board. But this isn’t just about Bitcoin. President Vladimir Putin has also backed the digital ruble, a blockchain-based version of the national currency. He called it “experimental” but said it’s a necessary step forward. At the same time, Putin stressed the need to regulate mining farms , which are booming but causing power shortages in some regions. Not Everything’s Fair Game Here’s the catch: while Russia is all-in on crypto for international trade, domestic use is still off-limits . You can’t buy a coffee with Bitcoin in Moscow, and the Central Bank wants to keep it that way. They’re worried about fraud and energy consumption spiraling out of control. Even so, the government’s creating a framework to regulate the industry. They’re considering a Bitcoin reserve to support foreign trade exclusively. It’s a careful balancing act—embracing crypto without letting it disrupt things at home. What to Expect This is just the beginning. By betting on cryptocurrencies, Russia’s trying to break free from a system it feels has been weaponized against it. Will it work? That’s the big question. For now, one thing’s clear: digital currencies are playing a bigger role in global trade. And for countries like Russia, they’re not just an experiment—they’re a lifeline.

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta