Russia is planning to allow a limited number of entities to mine cryptocurrencies for use in foreign trade.
Officials in the country are working on experimental legislation that would allow cryptocurrencies to be used in export-import deals, state news agency TASS reported this week, citing officials from the country’s central bank. Sanctions against Russia over its invasion of Ukraine have hit trade with the West and deepened ties with China.
Russia’s government has a hot-and-cold attitude toward cryptocurrencies. Its central bank called for a ban on cryptocurrency mining in the past, whereas President Vladimir Putin has expressed openness to digital assets.
