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Russia is moving forward with a proposal that mandates banks and merchants to implement the digital ruble, the nation’s central bank digital currency (#CBDC ), via legislation introduced in the State Duma.
By mandating the digital ruble, #Russia could potentially lay the groundwork for embracing #cryptocurrencies , specifically #Bitcoin , within its financial system.
By mandating the digital ruble, #Russia could potentially lay the groundwork for embracing #cryptocurrencies , specifically #Bitcoin , within its financial system.
How Bitcoin is Helping Russia Bypass Record 19,535 Sanctions
In response to a historic 19,535 Western sanctions imposed after the invasion of Ukraine, Russia has turned to Bitcoin ($BTC ) and cryptocurrency to navigate financial isolation. Here’s how this shift is reshaping its economy:
A Radical Turn to Crypto
🔹 2022: Russia faced unprecedented economic restrictions as sanctions cut off access to global financial systems like SWIFT.
🔹 2024: Russia legalized crypto mining and payments for cross-border transactions, marking a stark departure from its initial anti-crypto stance.
President Vladimir Putin's remark, “Who can stop Bitcoin? Nobody,” encapsulates the nation's growing reliance on decentralized finance.
Key Milestones in Russia’s Crypto Strategy
1️⃣ SWIFT Ban Solution: Bitcoin facilitates direct, trustless international payments, bypassing the traditional SWIFT system.
2️⃣ Trade Partners: Crypto supports trade with countries like China, India, and UAE, which are less dependent on Western financial systems.
3️⃣ Economic Resilience: With the ruble devalued and traditional trade channels disrupted, Bitcoin offers an alternative to maintain financial operations.
Why Bitcoin?
🌍 Decentralized Nature: Bitcoin operates independently of central banks, making it difficult for international regulators to block transactions.
⚡ Quick Transactions: Cryptocurrencies eliminate delays and barriers in cross-border payments.
💼 Adoption in Russia: Businesses and individuals are increasingly trading, saving, and investing in digital assets, fueling a local crypto ecosystem.
Challenges Ahead
While Bitcoin has empowered Russia to counter sanctions, it faces global scrutiny:
🔎 Increased Tracking: Law enforcement agencies are advancing in tracing crypto transactions.
📜 Regulatory Uncertainty: Future geopolitical tensions could influence crypto adoption policies.
The Bigger Picture
Russia’s pivot to cryptocurrency highlights the growing role of Bitcoin in reshaping international trade and finance. As sanctions evolve, so does the global economic order, driven in part by decentralized technologies.
💬 What are your thoughts on Bitcoin’s role in global politics?
#bitcoin #russia #CryptoAdoption #CryptoNews #TheCoinRepublic
A Radical Turn to Crypto
🔹 2022: Russia faced unprecedented economic restrictions as sanctions cut off access to global financial systems like SWIFT.
🔹 2024: Russia legalized crypto mining and payments for cross-border transactions, marking a stark departure from its initial anti-crypto stance.
President Vladimir Putin's remark, “Who can stop Bitcoin? Nobody,” encapsulates the nation's growing reliance on decentralized finance.
Key Milestones in Russia’s Crypto Strategy
1️⃣ SWIFT Ban Solution: Bitcoin facilitates direct, trustless international payments, bypassing the traditional SWIFT system.
2️⃣ Trade Partners: Crypto supports trade with countries like China, India, and UAE, which are less dependent on Western financial systems.
3️⃣ Economic Resilience: With the ruble devalued and traditional trade channels disrupted, Bitcoin offers an alternative to maintain financial operations.
Why Bitcoin?
🌍 Decentralized Nature: Bitcoin operates independently of central banks, making it difficult for international regulators to block transactions.
⚡ Quick Transactions: Cryptocurrencies eliminate delays and barriers in cross-border payments.
💼 Adoption in Russia: Businesses and individuals are increasingly trading, saving, and investing in digital assets, fueling a local crypto ecosystem.
Challenges Ahead
While Bitcoin has empowered Russia to counter sanctions, it faces global scrutiny:
🔎 Increased Tracking: Law enforcement agencies are advancing in tracing crypto transactions.
📜 Regulatory Uncertainty: Future geopolitical tensions could influence crypto adoption policies.
The Bigger Picture
Russia’s pivot to cryptocurrency highlights the growing role of Bitcoin in reshaping international trade and finance. As sanctions evolve, so does the global economic order, driven in part by decentralized technologies.
💬 What are your thoughts on Bitcoin’s role in global politics?
#bitcoin #russia #CryptoAdoption #CryptoNews #TheCoinRepublic
Sanctions, Cryptos, and Geopolitics: Russia's Bold New Move
Russia has introduced significant updates to its cryptocurrency policy. The country now permits the use of cryptocurrencies like Bitcoin for international trade, aiming to circumvent Western sanctions.
Despite this shift, cryptocurrencies remain prohibited for domestic payments within Russia. This approach reflects the government's cautious stance on digital currencies, allowing their use for international transactions while maintaining control over the domestic financial system.
New laws have been enacted to regulate cryptocurrency mining, providing a framework for both large and small-scale miners. However, 10 regions in Russia will face bans or restrictions on mining activities due to energy concerns.
The Central Bank of Russia has clarified its stance on cryptocurrencies, stating that it will focus on regulation rather than investing in digital currencies. This approach indicates the bank's prioritization of oversight and control in the cryptocurrency market.
Furthermore, discussions are underway to establish a Bitcoin strategic reserve as an alternative to traditional foreign exchange reserves. This move could potentially provide Russia with greater flexibility in its international transactions.
In response to Russia's updated cryptocurrency policy, Ukraine is developing measures to counter the use of digital currencies to evade sanctions. This move highlights the ongoing geopolitical tensions and the role of cryptocurrencies in international trade and finance.
$BTC #Bitcoin #Russia #RussiaBitcoin #RussiaCrypto #RussiaPolicy
Despite this shift, cryptocurrencies remain prohibited for domestic payments within Russia. This approach reflects the government's cautious stance on digital currencies, allowing their use for international transactions while maintaining control over the domestic financial system.
New laws have been enacted to regulate cryptocurrency mining, providing a framework for both large and small-scale miners. However, 10 regions in Russia will face bans or restrictions on mining activities due to energy concerns.
The Central Bank of Russia has clarified its stance on cryptocurrencies, stating that it will focus on regulation rather than investing in digital currencies. This approach indicates the bank's prioritization of oversight and control in the cryptocurrency market.
Furthermore, discussions are underway to establish a Bitcoin strategic reserve as an alternative to traditional foreign exchange reserves. This move could potentially provide Russia with greater flexibility in its international transactions.
In response to Russia's updated cryptocurrency policy, Ukraine is developing measures to counter the use of digital currencies to evade sanctions. This move highlights the ongoing geopolitical tensions and the role of cryptocurrencies in international trade and finance.
$BTC #Bitcoin #Russia #RussiaBitcoin #RussiaCrypto #RussiaPolicy
Russian companies using Bitcoin for international payments to avoid sanctions
According to recent reports, Russian enterprises are exploiting Bitcoin and other digital assets to evade restrictions in international commerce. The Finance Minister also announced the government's intentions to adopt bitcoin for foreign payments.
Russian firms use Bitcoin for international payments
Russia's Finance Minister Anton Siluanov told Reuters that enterprises are adopting Bitcoin and other cryptocurrencies for overseas payments to avoid sanctions.
After this year's legal reforms, the minister told Russia-24 that the government started formally employing these options for foreign commercial transactions:
Bitcoin, mined in Russia, is allowed under the experimental regime.
Russian legislators enacted a measure in July allowing corporations to exchange cryptocurrencies like Bitcoin internationally. The central bank will build a “experimental” crypto payment infrastructure under the September legislation, with the first transactions likely before year-end.
Russian firms, exchanges, and crypto organizations may apply to the central bank for experimental membership. Russian crypto payments remain forbidden.
The study indicates that foreign payments with its main commercial partners have been delayed. China, India, Turkey, and the UAE “are extremely cautious with Russia-related transactions to avoid scrutiny from Western regulators.”
Putin also passed a crypto turnover legislation to increase government control over Bitcoin and crypto mining. Authorities might potentially control mining infrastructure businesses after the revisions.
After these revisions, Russia authorized a six-year restriction on mining in important locations and a seasonal ban in particular territories due to its energy problem, which renders big power capabilities almost unfeasible until 2030.
However, over 150 local mining corporations have sought for a license to operate lawfully in Russia, with more likely shortly.
#Russia #CryptoRegulation2025 #Crypto2025Trends $BTC $ETH $XRP
According to recent reports, Russian enterprises are exploiting Bitcoin and other digital assets to evade restrictions in international commerce. The Finance Minister also announced the government's intentions to adopt bitcoin for foreign payments.
Russian firms use Bitcoin for international payments
Russia's Finance Minister Anton Siluanov told Reuters that enterprises are adopting Bitcoin and other cryptocurrencies for overseas payments to avoid sanctions.
After this year's legal reforms, the minister told Russia-24 that the government started formally employing these options for foreign commercial transactions:
Bitcoin, mined in Russia, is allowed under the experimental regime.
Russian legislators enacted a measure in July allowing corporations to exchange cryptocurrencies like Bitcoin internationally. The central bank will build a “experimental” crypto payment infrastructure under the September legislation, with the first transactions likely before year-end.
Russian firms, exchanges, and crypto organizations may apply to the central bank for experimental membership. Russian crypto payments remain forbidden.
The study indicates that foreign payments with its main commercial partners have been delayed. China, India, Turkey, and the UAE “are extremely cautious with Russia-related transactions to avoid scrutiny from Western regulators.”
Putin also passed a crypto turnover legislation to increase government control over Bitcoin and crypto mining. Authorities might potentially control mining infrastructure businesses after the revisions.
After these revisions, Russia authorized a six-year restriction on mining in important locations and a seasonal ban in particular territories due to its energy problem, which renders big power capabilities almost unfeasible until 2030.
However, over 150 local mining corporations have sought for a license to operate lawfully in Russia, with more likely shortly.
#Russia #CryptoRegulation2025 #Crypto2025Trends $BTC $ETH $XRP
🚨BREAKING: Russia Using Bitcoin due to Sanctions!!!
What happens when one of the world’s most sanctioned countries turns to Bitcoin for international trade? A seismic shift in the global financial system. Russia isn’t just mining crypto anymore—they’re using it as a lifeline, and the ripple effects could be MASSIV
E.
What’s Happening?
Russia’s Finance Minister, Anton Siluanov, just confirmed that the country is using Bitcoin and other cryptos for international transactions. Why? To bypass sanctions that have locked them out of traditional finance. This isn’t just a headline—it’s a revolution in real-time.
Why This Is HUGE:
1. The First Domino Falls: If Russia succeeds, other sanctioned nations might follow suit, leading to a broader adoption of crypto in international trade.
2. Bitcoin’s Use Case Goes Next-Level: From digital gold to a geopolitical weapon, BTC is evolving into a tool no one saw coming.
What It Means for You:
1. Volatility Ahead: Geopolitical moves like this shake markets. Expect major swings in BTC’s price.
2. New Opportunities: Countries adopting crypto for trade could mean a surge in demand—and price. Are you ready to ride the wave?
3. Decentralization Wins: This is proof that no government or organization can fully control Bitcoin.
Play It Smart:
- Watch the Headlines: Geopolitics and crypto are officially married. Stay informed—knowledge is profit.
- Diversify: Don’t go all-in on the hype. Hedge your bets with other assets.
- Think Long-Term: Today’s volatility could be tomorrow’s fortune.
Russia’s move proves that Bitcoin isn’t just a speculative asset—it’s a tool for real-world power plays. Are we witnessing the start of a new era in global finance?
Drop your thoughts below and follow @mende for more updates on crypto’s wild ride! 🚀💰
#Bitcoin #BTC #Russia #putin #BitcoinNews $BTC $ETH $XRP
What happens when one of the world’s most sanctioned countries turns to Bitcoin for international trade? A seismic shift in the global financial system. Russia isn’t just mining crypto anymore—they’re using it as a lifeline, and the ripple effects could be MASSIV
E.
What’s Happening?
Russia’s Finance Minister, Anton Siluanov, just confirmed that the country is using Bitcoin and other cryptos for international transactions. Why? To bypass sanctions that have locked them out of traditional finance. This isn’t just a headline—it’s a revolution in real-time.
Why This Is HUGE:
1. The First Domino Falls: If Russia succeeds, other sanctioned nations might follow suit, leading to a broader adoption of crypto in international trade.
2. Bitcoin’s Use Case Goes Next-Level: From digital gold to a geopolitical weapon, BTC is evolving into a tool no one saw coming.
What It Means for You:
1. Volatility Ahead: Geopolitical moves like this shake markets. Expect major swings in BTC’s price.
2. New Opportunities: Countries adopting crypto for trade could mean a surge in demand—and price. Are you ready to ride the wave?
3. Decentralization Wins: This is proof that no government or organization can fully control Bitcoin.
Play It Smart:
- Watch the Headlines: Geopolitics and crypto are officially married. Stay informed—knowledge is profit.
- Diversify: Don’t go all-in on the hype. Hedge your bets with other assets.
- Think Long-Term: Today’s volatility could be tomorrow’s fortune.
Russia’s move proves that Bitcoin isn’t just a speculative asset—it’s a tool for real-world power plays. Are we witnessing the start of a new era in global finance?
Drop your thoughts below and follow @mende for more updates on crypto’s wild ride! 🚀💰
#Bitcoin #BTC #Russia #putin #BitcoinNews $BTC $ETH $XRP
Russia has revealed its plan to utilize Bitcoin as a means to circumvent sanctions. This strategic move is aimed at reducing the country's dependence on the US dollar and mitigating the impact of Western sanctions .
By embracing Bitcoin, Russia seeks to create an alternative financial system that can facilitate international trade and transactions without relying on traditional channels. This development is a significant shift in Russia's stance on cryptocurrencies, which were previously met with skepticism .
The Russian government has already begun exploring ways to integrate cryptocurrencies into its financial system, including the launch of a digital ruble and the creation of a regulatory framework for cryptocurrency mining .
While this move may provide Russia with some flexibility in the face of sanctions, experts argue that the liquidity limitations of the cryptocurrency market make it unlikely that Russia can use Bitcoin to evade sanctions on a large scale .
#Btc $BTC #Bitcoin #DonaldTrump #russia #BTCXmasOrDip?
By embracing Bitcoin, Russia seeks to create an alternative financial system that can facilitate international trade and transactions without relying on traditional channels. This development is a significant shift in Russia's stance on cryptocurrencies, which were previously met with skepticism .
The Russian government has already begun exploring ways to integrate cryptocurrencies into its financial system, including the launch of a digital ruble and the creation of a regulatory framework for cryptocurrency mining .
While this move may provide Russia with some flexibility in the face of sanctions, experts argue that the liquidity limitations of the cryptocurrency market make it unlikely that Russia can use Bitcoin to evade sanctions on a large scale .
#Btc $BTC #Bitcoin #DonaldTrump #russia #BTCXmasOrDip?
🔐 Cybersecurity News (September 23, 2023):
1️⃣ Oops! Microsoft's #ai division accidentally granted full access to the company's internal confidential information when publishing a set of training data on GitHub 😬. This serves as a reminder that even leading companies make mistakes sometimes, but it's important to learn from them and improve 🙌.
2️⃣ The Prosecutor General's Office of #russia has fulfilled the request from Kyrgyzstan for the extradition of Cholpon Aidarova, who is suspected of creating the financial pyramid scheme "Finiko". This demonstrates the importance of collaboration between countries in the fight against financial fraud 🤝.
Let's make the world of cryptocurrency safer and more successful together! If you haven't already subscribed to our informative channel, join us to stay updated on the latest news and tips from the crypto world 💫🔒✨.
3️⃣ Unfortunately, email addresses, password hashes, and some wallet addresses of 6.8% of users on the Nansen analytics platform have been compromised and made publicly available 😱. This serves as a reminder of how important it is to ensure the security of personal data in the world of cryptocurrencies.
4️⃣ The Ministry of Home Affairs in #india has introduced a new tool for analyzing suspicious cryptocurrency transactions (CIAT). This is fantastic news! The fight against crime in the digital asset space is becoming more effective 🚀🔍.
5️⃣ Hong Kong-based #defi project, Linear Finance, is sharing some bad news 😞: they have fallen victim to an attack and lost all liquidity in the #lusd stablecoin on PancakeSwap and Ascendex platforms. This is a serious blow, but it's important to remain positive and find solutions 💪.
1️⃣ Oops! Microsoft's #ai division accidentally granted full access to the company's internal confidential information when publishing a set of training data on GitHub 😬. This serves as a reminder that even leading companies make mistakes sometimes, but it's important to learn from them and improve 🙌.
2️⃣ The Prosecutor General's Office of #russia has fulfilled the request from Kyrgyzstan for the extradition of Cholpon Aidarova, who is suspected of creating the financial pyramid scheme "Finiko". This demonstrates the importance of collaboration between countries in the fight against financial fraud 🤝.
Let's make the world of cryptocurrency safer and more successful together! If you haven't already subscribed to our informative channel, join us to stay updated on the latest news and tips from the crypto world 💫🔒✨.
3️⃣ Unfortunately, email addresses, password hashes, and some wallet addresses of 6.8% of users on the Nansen analytics platform have been compromised and made publicly available 😱. This serves as a reminder of how important it is to ensure the security of personal data in the world of cryptocurrencies.
4️⃣ The Ministry of Home Affairs in #india has introduced a new tool for analyzing suspicious cryptocurrency transactions (CIAT). This is fantastic news! The fight against crime in the digital asset space is becoming more effective 🚀🔍.
5️⃣ Hong Kong-based #defi project, Linear Finance, is sharing some bad news 😞: they have fallen victim to an attack and lost all liquidity in the #lusd stablecoin on PancakeSwap and Ascendex platforms. This is a serious blow, but it's important to remain positive and find solutions 💪.
Putin Declares Bitcoin Unstoppable Amid Dollar’s Waning Global Grip
Putin declared bitcoin unstoppable, calling cryptocurrency the future of global finance as nations move away from the declining U.S. dollar’s dominance.
Who Can Ban Bitcoin? Putin Highlights Crypto’s Unstoppable Evolution
Russian President Vladimir Putin, speaking at the VTB forum “Russia Calling!” on Wednesday, highlighted the inevitability of advancements in financial technologies, citing cryptocurrencies as a prime example.
He characterized these developments as a necessary response to demands for greater efficiency and dependability in global finance.
Putin emphasized that such technologies will persist and adapt despite external restrictions or regulatory interventions, asserting:
For example, bitcoin, who can ban it? Nobody.
Addressing the U.S. dollar’s global role, Putin suggested its decline is unrelated to the rise of cryptocurrencies but stems from American policies. He warned that such a downturn could destabilize U.S. economic influence worldwide.
The Russian president attributed the dollar’s diminishing significance to what he described as political strategies enacted by U.S. Democratic leaders following Donald Trump’s presidency.
In response to Trump’s recent comments about imposing steep tariffs on BRICS goods if the bloc moves away from the dollar, Putin criticized the currency’s use as a political weapon.
He also pointed to the shrinking share of the U.S. in the global economy and the emergence of alternative financial mechanisms.
Referencing the freezing of $300 billion in Russian assets by Western nations during the Ukraine conflict, Putin questioned the prudence of relying on foreign currency reserves that could be subject to political seizure. He asked:
A legitimate question: why accumulate reserves if they can be lost so easily?
Proposing a shift in economic priorities, Putin advocated redirecting funds toward domestic projects such as infrastructure,
#Putin #bitcoin100k #Russia #cryptomarket #CryptoNews
Putin declared bitcoin unstoppable, calling cryptocurrency the future of global finance as nations move away from the declining U.S. dollar’s dominance.
Who Can Ban Bitcoin? Putin Highlights Crypto’s Unstoppable Evolution
Russian President Vladimir Putin, speaking at the VTB forum “Russia Calling!” on Wednesday, highlighted the inevitability of advancements in financial technologies, citing cryptocurrencies as a prime example.
He characterized these developments as a necessary response to demands for greater efficiency and dependability in global finance.
Putin emphasized that such technologies will persist and adapt despite external restrictions or regulatory interventions, asserting:
For example, bitcoin, who can ban it? Nobody.
Addressing the U.S. dollar’s global role, Putin suggested its decline is unrelated to the rise of cryptocurrencies but stems from American policies. He warned that such a downturn could destabilize U.S. economic influence worldwide.
The Russian president attributed the dollar’s diminishing significance to what he described as political strategies enacted by U.S. Democratic leaders following Donald Trump’s presidency.
In response to Trump’s recent comments about imposing steep tariffs on BRICS goods if the bloc moves away from the dollar, Putin criticized the currency’s use as a political weapon.
He also pointed to the shrinking share of the U.S. in the global economy and the emergence of alternative financial mechanisms.
Referencing the freezing of $300 billion in Russian assets by Western nations during the Ukraine conflict, Putin questioned the prudence of relying on foreign currency reserves that could be subject to political seizure. He asked:
A legitimate question: why accumulate reserves if they can be lost so easily?
Proposing a shift in economic priorities, Putin advocated redirecting funds toward domestic projects such as infrastructure,
#Putin #bitcoin100k #Russia #cryptomarket #CryptoNews
🪙 Crypto and Blockchain News (January 11, 2024):
1️⃣ SEC: The #sec has approved applications for spot Bitcoin ETFs and granted permission for listing on all registered national securities exchanges. All 11 issuers, including asset manager Grayscale, have been authorized for trading, with Grayscale obtaining approval to convert the GBTC trust into an ETF. 🛑 This event could lead to a new wave of cryptocurrency popularity and strengthen investor confidence.
2️⃣ Caixin: Around a dozen stock companies in Hong Kong are exploring the possibility of launching spot Bitcoin ETFs. Among the potential issuers are firms with Chinese capital, as well as others from Asia and Europe. 🌏
3️⃣ Wu Blockchain: In December 2023, users from #russia took the top spot in terms of visits to cryptocurrency exchanges Bybit, HTX, and MEXC. The share of Russian customers on Bybit accounted for 19% of the total, 12% on MEXC, and 11% on HTX. The latter platform is also popular among citizens of Ukraine and Kazakhstan, accounting for 7% each. 📈
4️⃣ GlobeNewswire: #mining company Phoenix Group has announced a $187 million contract with Bitcoin mining device manufacturer Bitmain. Details are not disclosed. ⛏️
5️⃣ Reuters: #ripple will allocate $285 million to buy back its shares from early investors, valuing the fintech company at $11.3 billion. According to the offer, investors can sell up to 6% of their stake. 💸
🌐 Vote for our channel to stay informed about the major events in the cryptocurrency world!
1️⃣ SEC: The #sec has approved applications for spot Bitcoin ETFs and granted permission for listing on all registered national securities exchanges. All 11 issuers, including asset manager Grayscale, have been authorized for trading, with Grayscale obtaining approval to convert the GBTC trust into an ETF. 🛑 This event could lead to a new wave of cryptocurrency popularity and strengthen investor confidence.
2️⃣ Caixin: Around a dozen stock companies in Hong Kong are exploring the possibility of launching spot Bitcoin ETFs. Among the potential issuers are firms with Chinese capital, as well as others from Asia and Europe. 🌏
3️⃣ Wu Blockchain: In December 2023, users from #russia took the top spot in terms of visits to cryptocurrency exchanges Bybit, HTX, and MEXC. The share of Russian customers on Bybit accounted for 19% of the total, 12% on MEXC, and 11% on HTX. The latter platform is also popular among citizens of Ukraine and Kazakhstan, accounting for 7% each. 📈
4️⃣ GlobeNewswire: #mining company Phoenix Group has announced a $187 million contract with Bitcoin mining device manufacturer Bitmain. Details are not disclosed. ⛏️
5️⃣ Reuters: #ripple will allocate $285 million to buy back its shares from early investors, valuing the fintech company at $11.3 billion. According to the offer, investors can sell up to 6% of their stake. 💸
🌐 Vote for our channel to stay informed about the major events in the cryptocurrency world!
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El Salvador and Russia: Crypto as an International Trade Solution?
🚀💥 El Salvador is playing the crypto card with Russia! 💥🚀
In a bold move to circumvent financial restrictions imposed by sanctions, El Salvador is proposing to use Bitcoin $BTC for its trade with Russia. A real masterstroke that could revolutionize economic relations between the two nations! 🌍💰
According to Alexander Ilyukhin, secretary of the Russian Embassy in Managua and head of the office in El Salvador, the complex economic situation is forcing El Salvador to explore cryptocurrencies as a viable alternative. In an interview with Russian state newspaper “Izvestia,” Ilyukhin explained that the recognition of Bitcoin as legal tender by El Salvador represents an unprecedented opportunity. The Central American country was the first to make Bitcoin an official currency, allowing tourists to pay for their services in cryptocurrency.
In a bold move to circumvent financial restrictions imposed by sanctions, El Salvador is proposing to use Bitcoin $BTC for its trade with Russia. A real masterstroke that could revolutionize economic relations between the two nations! 🌍💰
According to Alexander Ilyukhin, secretary of the Russian Embassy in Managua and head of the office in El Salvador, the complex economic situation is forcing El Salvador to explore cryptocurrencies as a viable alternative. In an interview with Russian state newspaper “Izvestia,” Ilyukhin explained that the recognition of Bitcoin as legal tender by El Salvador represents an unprecedented opportunity. The Central American country was the first to make Bitcoin an official currency, allowing tourists to pay for their services in cryptocurrency.
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Russian Bank Looks to Stablecoin for Cross-Border Transactions
The Bank of Russia is considering the use of stablecoins in cross-border transactions, considering them digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative could involve a limited group of qualified investors and would require regulatory feasibility testing.
Russian Bank Explores Using Stablecoins for Cross-Border Transactions
Russian Bank Explores Using Stablecoins for Cross-Border Transactions
EU's Seizure of Russian Assets: Threat to Euro's Reserve Currency Status
Potential Consequences of Confiscating Russian Assets
The confiscation of frozen Russian assets could have catastrophic consequences, including a loss of trust in the global financial system, destabilization of the euro, and potential harsh retaliatory measures from Russia. These concerns were raised by Euroclear, the Belgian clearinghouse responsible for holding the majority of the frozen assets of Russia's central bank.
Euroclear Warns of Legal and Financial Risks
Valérie Urbain, CEO of Euroclear, expressed concerns about the risks and liabilities associated with the potential confiscation of Russian assets. She emphasized that if the EU decides to take this step, the associated liabilities must be addressed:
“We cannot be in a situation where assets are confiscated, and a few years later, Russia comes back and demands the return of its securities while the assets no longer exist.”
Urbain added that any confiscation must include addressing all associated liabilities; otherwise, it could seriously undermine the credibility of the European financial system.
Funding Ukraine and Geopolitical Tensions
The EU has so far used profits from frozen Russian assets to finance aid to Ukraine, including a €50 billion loan package approved by the Group of Seven (G7). However, discussions about fully seizing €180 billion worth of assets held by Euroclear have resurfaced, particularly amid uncertainties about future U.S. support for Ukraine under a potential Donald Trump administration.
Russia has condemned these actions as theft and a violation of international norms. The Kremlin has also threatened retaliatory measures, including nationalizing Western assets in Russia. This situation is exacerbating geopolitical tensions between Russia and Western powers, with frozen assets becoming a focal point of conflict.
Threat to Trust in the Euro and the Global System
Euroclear's CEO warned of broader implications that could jeopardize the euro's status as a reserve currency. She noted that such a precedent could erode trust among central banks worldwide:
“The trust built over decades could suddenly be called into question.”
If central banks perceive that their assets are no longer protected under established legal frameworks, it could disrupt global economic relationships and financial stability.
Increased Activity in Asia and the Middle East
Urbain also noted heightened trading activity in Asian and Middle Eastern markets. While she stated that the current situation does not pose an immediate threat, the potential confiscation of assets could have long-term consequences for the global financial system:
“If confiscation happens, everything is up in the air,” she concluded.
#CryptoNewss , #Russia , #CentralBanks , #Cryptocurrencies ,#CryptoNewsCommunity
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The confiscation of frozen Russian assets could have catastrophic consequences, including a loss of trust in the global financial system, destabilization of the euro, and potential harsh retaliatory measures from Russia. These concerns were raised by Euroclear, the Belgian clearinghouse responsible for holding the majority of the frozen assets of Russia's central bank.
Euroclear Warns of Legal and Financial Risks
Valérie Urbain, CEO of Euroclear, expressed concerns about the risks and liabilities associated with the potential confiscation of Russian assets. She emphasized that if the EU decides to take this step, the associated liabilities must be addressed:
“We cannot be in a situation where assets are confiscated, and a few years later, Russia comes back and demands the return of its securities while the assets no longer exist.”
Urbain added that any confiscation must include addressing all associated liabilities; otherwise, it could seriously undermine the credibility of the European financial system.
Funding Ukraine and Geopolitical Tensions
The EU has so far used profits from frozen Russian assets to finance aid to Ukraine, including a €50 billion loan package approved by the Group of Seven (G7). However, discussions about fully seizing €180 billion worth of assets held by Euroclear have resurfaced, particularly amid uncertainties about future U.S. support for Ukraine under a potential Donald Trump administration.
Russia has condemned these actions as theft and a violation of international norms. The Kremlin has also threatened retaliatory measures, including nationalizing Western assets in Russia. This situation is exacerbating geopolitical tensions between Russia and Western powers, with frozen assets becoming a focal point of conflict.
Threat to Trust in the Euro and the Global System
Euroclear's CEO warned of broader implications that could jeopardize the euro's status as a reserve currency. She noted that such a precedent could erode trust among central banks worldwide:
“The trust built over decades could suddenly be called into question.”
If central banks perceive that their assets are no longer protected under established legal frameworks, it could disrupt global economic relationships and financial stability.
Increased Activity in Asia and the Middle East
Urbain also noted heightened trading activity in Asian and Middle Eastern markets. While she stated that the current situation does not pose an immediate threat, the potential confiscation of assets could have long-term consequences for the global financial system:
“If confiscation happens, everything is up in the air,” she concluded.
#CryptoNewss , #Russia , #CentralBanks , #Cryptocurrencies ,#CryptoNewsCommunity
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
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Russia Enters the Web3 Era!
🚀🌟 Breaking News: Russian giant enters the Web3 arena with the legalization of cryptocurrency mining! 🌟🚀
The crypto scene is buzzing! After weeks of turmoil that saw Bitcoin plummet from over $70,000 to under $50,000, Russia’s surprise cryptocurrency mining legislation has sent prices soaring. On August 8, Vladimir Putin signed a landmark law that legalized cryptocurrency mining, and on August 9, Bitcoin nearly hit $62,394.50, marking a 25.33% increase from its recent lows!
The crypto scene is buzzing! After weeks of turmoil that saw Bitcoin plummet from over $70,000 to under $50,000, Russia’s surprise cryptocurrency mining legislation has sent prices soaring. On August 8, Vladimir Putin signed a landmark law that legalized cryptocurrency mining, and on August 9, Bitcoin nearly hit $62,394.50, marking a 25.33% increase from its recent lows!
🔐 Cybersecurity News (December 18, 2023):
1️⃣ Mystie.Eth: In 2023, cryptocurrency mixers processed #bitcoin transactions totaling over $300 million, stolen as a result of various cyber incidents. According to their calculations, one-third of the losses from the 50 largest exploits affected the network of the original cryptocurrency. 🌐
2️⃣ Microsoft: #microsoft researchers have uncovered a series of cyber incidents where OAuth applications were used to automate phishing attacks, compromise business emails, and engage in covert cryptocurrency mining. In one instance, a perpetrator using the alias Storm-1283 deployed virtual machines for cryptocurrency mining through OAuth. The damage ranged from $10,000 to $1.5 million depending on the duration of the attack. ⚠️
3️⃣ F.A.C.C.T.: Since the beginning of 2023, cybersecurity company F.A.C.C.T. has identified 10 active fraudulent affiliate programs targeting users in #russia through giveaways and crypto investments. Monthly, such a program can bring participants in the affiliate community approximately 4.3 million rubles. 💰
4️⃣ Tether: Tether has publicized two letters to U.S. legislators, affirming its commitment to combating the unlawful use of the #usdt stablecoin. One document was sent to the Senate Committee on Banking, Housing, and Urban Affairs, while the other was addressed to the Committee on Financial Services of the House of Representatives. 📜
5️⃣ AFM: Representatives of the Executive Office for Combating Money Laundering and Terrorism Financing in the UAE have signed a memorandum with the Agency for Financial Monitoring (AFM) of Kazakhstan. The parties intend to collaborate in combating financial crimes. 🤝
🚀 Share in the comments which topics interest you, and don't forget to hit the like button! 👍
1️⃣ Mystie.Eth: In 2023, cryptocurrency mixers processed #bitcoin transactions totaling over $300 million, stolen as a result of various cyber incidents. According to their calculations, one-third of the losses from the 50 largest exploits affected the network of the original cryptocurrency. 🌐
2️⃣ Microsoft: #microsoft researchers have uncovered a series of cyber incidents where OAuth applications were used to automate phishing attacks, compromise business emails, and engage in covert cryptocurrency mining. In one instance, a perpetrator using the alias Storm-1283 deployed virtual machines for cryptocurrency mining through OAuth. The damage ranged from $10,000 to $1.5 million depending on the duration of the attack. ⚠️
3️⃣ F.A.C.C.T.: Since the beginning of 2023, cybersecurity company F.A.C.C.T. has identified 10 active fraudulent affiliate programs targeting users in #russia through giveaways and crypto investments. Monthly, such a program can bring participants in the affiliate community approximately 4.3 million rubles. 💰
4️⃣ Tether: Tether has publicized two letters to U.S. legislators, affirming its commitment to combating the unlawful use of the #usdt stablecoin. One document was sent to the Senate Committee on Banking, Housing, and Urban Affairs, while the other was addressed to the Committee on Financial Services of the House of Representatives. 📜
5️⃣ AFM: Representatives of the Executive Office for Combating Money Laundering and Terrorism Financing in the UAE have signed a memorandum with the Agency for Financial Monitoring (AFM) of Kazakhstan. The parties intend to collaborate in combating financial crimes. 🤝
🚀 Share in the comments which topics interest you, and don't forget to hit the like button! 👍
"Russia has announced a sweeping 6-year ban on cryptocurrency mining in 10 regions, citing concerns over excessive energy consumption and strain on local power grids. These regions, known for their energy deficits, have been struggling to accommodate the growing power demands of crypto mining operations. This move comes as Russia seeks to balance its growing interest in blockchain technology with the need to maintain energy stability and infrastructure integrity.
What does this mean for the future of crypto mining in Russia and the global mining ecosystem? Will other countries follow suit, or will miners find new opportunities elsewhere? Let’s discuss the broader implications of this decision. Share your thoughts below!
#CryptoNews #Russia #CryptoMining #EnergyCrisis #Blockchain
What does this mean for the future of crypto mining in Russia and the global mining ecosystem? Will other countries follow suit, or will miners find new opportunities elsewhere? Let’s discuss the broader implications of this decision. Share your thoughts below!
#CryptoNews #Russia #CryptoMining #EnergyCrisis #Blockchain
Putin Sees the US Dollar Losing Dominance. 🇷🇺💲📉
As the global economic landscape undergoes a significant shift, Russian President Vladimir Putin weighs in on the dwindling dominance of the U.S. dollar.
Putin acknowledges the dollar's pivotal role in maintaining U.S. supremacy but criticizes the weaponization of the currency for political leverage. Consequences include U.S. allies reducing dollar reserves.
In response to imposed restrictions, Russia witnesses a decline in the share of transactions in U.S. dollars. The country explores alternative currencies, such as the Chinese yuan, reflecting a broader global trend towards trade diversification.
A recent BRICS meeting emphasizes a move away from the dollar as the primary reserve currency. The expansion of the BRICS bloc underscores the growing momentum behind this shift, with countries advocating for the use of local currencies in international transactions.
Countries, particularly within the BRICS bloc, turn to alternative currencies like the yuan, especially in the oil market. The diminishing influence of the dollar prompts the need for the U.S. to reassess its global economic approach.
Putin speculates that the U.S.'s decision to weaponize its currency may stem from self-conceit. However, the rise of alternative currencies challenges the dollar's dominance, proving otherwise.
Putin warns of unintended consequences undermining U.S. economic power, echoed by experts domestically and internationally. The long-term implications could have far-reaching consequences for the U.S. economy and its global standing, urging policymakers to adapt to changes and pursue strategies promoting stability and cooperation.
#Putin #BRICS #Russia #Dollar #usa
As the global economic landscape undergoes a significant shift, Russian President Vladimir Putin weighs in on the dwindling dominance of the U.S. dollar.
Putin acknowledges the dollar's pivotal role in maintaining U.S. supremacy but criticizes the weaponization of the currency for political leverage. Consequences include U.S. allies reducing dollar reserves.
In response to imposed restrictions, Russia witnesses a decline in the share of transactions in U.S. dollars. The country explores alternative currencies, such as the Chinese yuan, reflecting a broader global trend towards trade diversification.
A recent BRICS meeting emphasizes a move away from the dollar as the primary reserve currency. The expansion of the BRICS bloc underscores the growing momentum behind this shift, with countries advocating for the use of local currencies in international transactions.
Countries, particularly within the BRICS bloc, turn to alternative currencies like the yuan, especially in the oil market. The diminishing influence of the dollar prompts the need for the U.S. to reassess its global economic approach.
Putin speculates that the U.S.'s decision to weaponize its currency may stem from self-conceit. However, the rise of alternative currencies challenges the dollar's dominance, proving otherwise.
Putin warns of unintended consequences undermining U.S. economic power, echoed by experts domestically and internationally. The long-term implications could have far-reaching consequences for the U.S. economy and its global standing, urging policymakers to adapt to changes and pursue strategies promoting stability and cooperation.
#Putin #BRICS #Russia #Dollar #usa
Russia is using Bitcoin for international payments
Russia’s Finance Minister Anton Siluanov has announced that Russian companies have started using Bitcoin and other cryptos for international trade.
“Such transactions are already occurring. We believe they should be expanded and developed further,” he told Russia 24 TV. He also made it clear that this is just the beginning, calling crypto payments “the future of international trade.”
From Bitcoin bans to full-blown adoption
Russia’s crypto history has been wild. In 2017, the government looked at blockchain tech like a curious kid with a new toy, but it quickly slammed the brakes, banning cryptos for payments. The official excuse? Concerns about financial stability and preventing shady activities.
Fast forward to 2020, and the rules softened, but not by much. Crypto was legalized, but their use for transactions remained off the table.
Now, 2024 has flipped the script. Russia’s lawmakers gave mining the green light, effective November 1, and legalized the use of crypto for cross-border payments. The timing isn’t random. With sanctions making traditional trade channels nearly impossible, crypto has become the lifeline.
Russia isn’t playing small ball here. In 2023 alone, the country mined 54,000 Bitcoins, pulling in 50 billion rubles (around $550 million) in tax revenue. With new laws in place, the potential for growth is massive.
President Vladimir Putin threw his weight behind them, criticizing the U.S. for using the dollar as a political weapon. “The U.S. undermines the dollar’s role as a global reserve currency,” he said earlier this month, calling Bitcoin a viable alternative. And for good measure, he added, “No one in the world can regulate Bitcoin.”
The country is now the second-largest Bitcoin mining hub in the world, right behind the United States. Why? Cheap electricity and freezing weather. Perfect conditions for running mining rigs 24/7.
#Russia #Bitcoin #BTC #CryptoNews #InternationalPayments $BTC $ETH $XRP
Russia’s Finance Minister Anton Siluanov has announced that Russian companies have started using Bitcoin and other cryptos for international trade.
“Such transactions are already occurring. We believe they should be expanded and developed further,” he told Russia 24 TV. He also made it clear that this is just the beginning, calling crypto payments “the future of international trade.”
From Bitcoin bans to full-blown adoption
Russia’s crypto history has been wild. In 2017, the government looked at blockchain tech like a curious kid with a new toy, but it quickly slammed the brakes, banning cryptos for payments. The official excuse? Concerns about financial stability and preventing shady activities.
Fast forward to 2020, and the rules softened, but not by much. Crypto was legalized, but their use for transactions remained off the table.
Now, 2024 has flipped the script. Russia’s lawmakers gave mining the green light, effective November 1, and legalized the use of crypto for cross-border payments. The timing isn’t random. With sanctions making traditional trade channels nearly impossible, crypto has become the lifeline.
Russia isn’t playing small ball here. In 2023 alone, the country mined 54,000 Bitcoins, pulling in 50 billion rubles (around $550 million) in tax revenue. With new laws in place, the potential for growth is massive.
President Vladimir Putin threw his weight behind them, criticizing the U.S. for using the dollar as a political weapon. “The U.S. undermines the dollar’s role as a global reserve currency,” he said earlier this month, calling Bitcoin a viable alternative. And for good measure, he added, “No one in the world can regulate Bitcoin.”
The country is now the second-largest Bitcoin mining hub in the world, right behind the United States. Why? Cheap electricity and freezing weather. Perfect conditions for running mining rigs 24/7.
#Russia #Bitcoin #BTC #CryptoNews #InternationalPayments $BTC $ETH $XRP
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BRICS Challenge to US Dollar Hegemony: Crypto Perspective
A crypto YouTuber analyzed how the #BRICS bloc (Brazil, #Russia , India, China and South Africa) is challenging the United States on the economic front, potentially using cryptocurrencies to gain an advantage.
The podcast talks about how the BRICS countries are forming alliances with other countries that may have previously opposed the US. The presenter also draws attention to Russia's potential use of cryptocurrency, particularly Tether's USDT, for money laundering.
The podcast talks about how the BRICS countries are forming alliances with other countries that may have previously opposed the US. The presenter also draws attention to Russia's potential use of cryptocurrency, particularly Tether's USDT, for money laundering.