He noted that the Russian Federation has officially begun to use Bitcoin and other cryptocurrencies for cross-border payments. Ukraine informed its partners about such plans last summer, so, the official added, this is not a surprise.
Sanctions have complicated trade for the Russian Federation with key partner countries like China and Turkey. Their banks avoid agreements related to sanctioned Russia, "to not fall under the scrutiny of Western regulators."
As a result, the aggressor country has allowed the use of cryptocurrency in international trade and is moving towards legalizing mining, specifically Bitcoin, of which it is a leading producer, as Vlasuk wrote.
He quoted the head of the Russian Ministry of Finance, Anton Siluanov, who spoke about the use of Bitcoins in the foreign market and announced an expansion of such payments.
"Within the framework of the experimental regime, Bitcoins obtained domestically are already being used for foreign trade operations. These transactions are taking place, and we intend to develop them. I am confident that this will actively expand next year," Siluanov said.