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Russia is attempting to effectively bypass Western sanctions by using bitcoin for transactions within the BRICS countries

On October 23rd, with the opening of the BRICS summit in Kazan, Russia, the issue of cryptocurrencies is on the agenda. Russian lawmakers are pushing the idea that Russian miners could sell their tokens to international buyers, and domestic buyers could use bitcoin markets and other crypto marketplaces to pay for imported goods, effectively bypassing Western sanctions. Richard Wolf, an American economist and professor emeritus at the University of Massachusetts Amherst, commented on the situatio...

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2024-10-23 15:11:47
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