Russia Turns to Bitcoin – Could It Crack the Global Financial System?
Russia is leveraging bitcoin and other cryptocurrencies to counter Western sanctions, with legislative changes enabling their use in international trade.
Finance Minister Anton Siluanov confirmed that mined bitcoins are now part of cross-border transactions, targeting key partners like China and Turkey. As global banks tighten sanctions compliance, Russia turns to digital currencies to reduce reliance on traditional financial systems. President Putin supports the shift, criticizing the politicization of the U.S. dollar and advocating for wider crypto adoption to bolster economic resilience.
Officials aim to expand these transactions further in the coming year.
Clever Robot News Desk 28th December 2024
