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.
Earn more CFN tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://cryptoforum.news0
CFN Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed