Russians Didn’t Wait For The Law, Bitcoin Is Used For International Payments!

After Russia’s invasion of Ukraine, the USA and EU countries imposed some economic sanctions on Russia.

Russian businesses that want to minimize the effects of these sanctions have turned to cryptocurrencies.
Russian authorities, seeing this trend, Bitcoin (BTC) and cryptocurrencies accelerated the work on its use.

In this regard, a government representative stated that Russian businesses affected by the sanctions imposed on Russia BTC He said that although the regulation on the use of cryptocurrencies and cryptocurrencies is expected to take effect in 2023 at the earliest, it has already started using crypto money for payments.

Speaking to Russian local media Izvestia about this news, Ivan Chebeskov, Director of the Fiscal Policy Department of the Russian Ministry of Finance, said that the companies affected by the sanctions are responsible for payments. cryptocurrency Confirmed using it.

“Russian businesses affected by the imposed economic sanctions tend to use cryptocurrencies for their payments.

However, such international payments using cryptocurrencies are still limited.”

Also speaking to Izvestia, Russian Federation Chamber of Commerce and Industry Council official Vladimir Gamza acknowledged this trend and said: Russian businesses are currently actively using digital payment instruments, including cryptocurrencies.” said.

Stating that payments in US dollars, euros and other fiat currencies have decreased to a minimum due to sanctions, Gamza said that he predicts that the volume of cross-border transactions of cryptocurrencies could potentially see a several-fold increase.