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Russian President Vladimir Putin has signed a law legalizing cryptocurrency mining in Russia, marking a significant milestone in the country’s adoption of digital currencies.
Effective November 1, 2024, this law not only legalizes cryptocurrency mining but also permits cross-border settlements and exchange trading in digital currencies. Russia’s move is seen as a strategic effort to circumvent Western sanctions and sustain trade flows amidst economic pressures.
By integrating cryptocurrency into its financial system, Russia aims to leverage the benefits of blockchain technology and enhance its economic resilience against international sanctions. This decision underscores Russia’s growing interest in digital currencies as a tool for financial independence and economic diversification.
More information below:
JUST IN: 🇷🇺 Vladimir Putin signs law legalizing cryptocurrency mining in Russia. pic.twitter.com/4JTUdutXV3
— Watcher.Guru (@WatcherGuru) August 8, 2024
JUST IN: 🇷🇺 President Putin signs law legalising #Bitcoin and crypto mining in Russia. pic.twitter.com/S4KYEZ61kr
— Radar🚨 (@RadarHits) August 8, 2024
BREAKING:
Russia legalizes crypto payments and mining.
This bold move aims to bypass Western sanctions and keep trade flowing. pic.twitter.com/HNisKZopQw
— Globe Eye News (@GlobeEyeNews) August 8, 2024
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