The Russian Finance Minister has now shared that a number of companies in the country have started using Bitcoin and various other cryptocurrencies for international payments, due to trade sanctions by the West, especially the United States.
The move is seen as in line with Russia allowing the use of cryptocurrencies for international trade this year.
Previously, the Russian President has described Bitcoin as an asset that is free from regulation, unlike the United States currency which is said to be used for political purposes.
Moving forward, the use of cryptocurrency or Bitcoin is expected to increase further in the coming years in the country.
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BUSINESS & MONEY