Russian companies have started using Bitcoin (CRYPTO: BTC) and other digital currencies for international transactions, said Finance Minister Anton Siluanov on Wednesday.
What Happened: Siluanov revealed that Russian businesses have begun using Bitcoin and other digital currencies for international transactions, reported Reuters. The legislative changes that allowed this move were implemented to counter the impact of Western sanctions on Russia’s trade with major partners like China and Turkey.
Siluanov told Russia 24 television channel “As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions).”
“Such transactions are already occurring. We believe they should be expanded and developed further. I …Full story available on Benzinga.com
Russian Firms Adopt Bitcoin For Global Trade In Response To Western Sanctions: ‘Should Be Expanded And Developed Further’
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