Under a barrage of Western sanctions, Russia turns to an unexpected ally: Bitcoin. This flagship cryptocurrency, which Moscow intends to leverage, emerges as a way to bypass the dollar and financial restrictions. With ideal conditions for Bitcoin mining, the country aims to become a key player in the sector. But this strategic shift raises crucial questions about its economic and legal implications.

Since September 2024, Russia, which is approaching an economic disaster, is experiencing a legal regime that allows the use of digital financial assets (DFA) in international trade. According to Anton Siluanov, the Minister of Finance, these modern tools, including Bitcoin, could effectively replace the dollar in transactions.

"We can pay for the delivery of goods with digital financial assets. It is also possible with Bitcoin, which we are mining here," he stated on the Russia-24 channel.

Specifically, this approach offers several benefits:

Reduction of dependence on the US dollar;

Ease of exchanges with countries under similar sanctions;

Exploitation of Russia's vast energy resources for mining.

The country is not limited to mining: it intends to develop a robust infrastructure to expand these practices starting in 2025. But beware, not everything is rosy despite a booming crypto market: Siluanov warns citizens about the risks of crypto speculation, reminding them that Bitcoin is not a quick path to wealth.

Crypto trading, between opportunities and caution

If Russia legalizes Bitcoin mining, it remains cautious about crypto trading. Last November, Siluanov recommended not investing in Bitcoin while it was flirting with historical peaks.