Russian firms are using crypto for international payments amid sanctions, said the country's finance minister. Recent legislative changes have reversed Russia's previous resistance to crypto. Global banks have reduced transactions with Russia, prompting a shift to alternative payment systems. Russian companies have found another way to skirt Western sanctions against trade payments: cryptocurrency. Some businesses have begun using crypto, including bitcoin, to make international payments.
Russian firms are using crypto for international payments amid sanctions, said the country's finance minister. Recent legislative changes have reversed Russia's previous resistance to crypto. Global banks have reduced transactions with Russia, prompting a shift to alternative payment systems. Russian companies have found another way to skirt Western sanctions against trade payments: cryptocurrency. Some businesses have begun using crypto, including bitcoin, to make international payments.