Russia wants to circumvent Western sanctions with cryptocurrencies

Riga In times of war economy, Moscow is discovering the benefits of digital currencies for itself: in the summer of 2021, Kremlin chief Vladimir Putin signed a law that largely bans the use of cryptocurrencies as a means of payment. But now the State Duma wants to legalize the so-called mining, i.e. the creation of crypto currencies, as well as the sale of such newly created crypto values ​​- with restrictions.

Anatoly Aksakov, chairman of the Duma’s financial market committee, outlines the prospects: He assumes that the corresponding law will be passed in January or February, he told the pro-government Russian daily “Isvestia”.