Moscow has become more active in using various cryptocurrencies to avoid sanctions by Western countries.
Ukraine is preparing “sanctions and other solutions” to block unwanted cryptocurrency payments to Russia. This was announced by Advisor to the President of Ukraine, Commissioner for Sanctions Policy Vladislav Vlasyuk on Facebook on Thursday, December 26.
He recalled that Russia began using Bitcoin and other cryptocurrencies for international payments after changes in the law allowing such transactions to counter Western sanctions.
“Is this a surprise for us? No. We, without exaggeration, were the first to draw the attention of our partners to such enemy plans in the summer. The appropriate sanctions and other solutions to block the possibility of using unwanted cryptocurrency payments is being prepared,” said Vlasyuk.
As you know, sanctions have greatly complicated Russia’s trade with key partners such as China and Turkey. Local banks avoid deals related to Russia to avoid coming under the control of Western regulators. In response, Moscow began to actively use cryptocurrencies.
As you know, in July of this year, the State Duma of the Russian Federation adopted in the second and third reading a law legalizing cryptocurrency mining activities in Russia.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.