Russia Legalizes Bitcoin For International Trade To Bypass Sanctions

Russian lawmakers have just approved a groundbreaking law that allows businesses to use Bitcoin and other cryptocurrencies for international trade, aiming to sidestep Western sanctions imposed after the Ukraine invasion. Set to take effect in September, this move is designed to solve payment delays with major trade partners like China, India, and the UAE. The central bank will test out this new system before the end of the year, although crypto payments within Russia remain banned. This shift c...

Subscribe to view this content.

 
Do you have a tip or sensitive material to share with GGI? Are you a journalist, researcher or independent blogger and want to write for us? You can reach us at [email protected].