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Russia proposes to bypass sanctions using Bitcoin

Russia proposes to bypass sanctions using Bitcoin

HappyCoinNewsHappyCoinNews2024/10/24 18:01
By:HappyCoinNews

Legislators in Russia proposed circumvent economic sanctions with the help of Bitcoin and other popular cryptocurrencies.

During the BRICS summit in Kazan, which began on October 22, Russian parliamentarians put forward an initiative to allow digital asset miners to sell bitcoins and other coins to foreign citizens, who in turn will pay for goods delivered from the Russian Federation with the purchased virtual currencies. Thanks to this, participants in trading operations will be able to avoid using traditional international payment systems based on the dollar.

To accomplish this ambitious task, the mining company BitRiver, in partnership with the Russian Direct Investment Fund, plans to open digital asset mining centers in all BRICS member states. BitRiver CEO Igor Runets believes that this will increase liquidity virtual currencies and will contribute to the development of digital technologies.

Russia proposes to bypass sanctions using Bitcoin image 0

Igor Runets

Cryptocurrency Topics touched and Russian President Vladimir Putin. He said that, at the instigation of the Russian side, representatives of the BRICS countries will discuss the issue of using digital assets in the investment sphere. If this initiative is approved, then it will be possible to invest not only fiat currencies, but also coins and tokens in new and existing startups.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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