Russia accepting Digital currency and Bitcoin to Evade Western sanctions : Cryptocurrency Russia
In this recent #UkraineRussiaWar, World’s are going to impose many sanctions on Russia to stop the big Nuclear war in Western countries. Russia facing big Economic sanctions, commercial and financial sanctions, penalties sanctions which targeted by self–governing state, group, or individual, due this Russia also facing big imposed for a variety of political, military, and social issues.
The Sanctions on a country mostly impacts on their financial, International Reserves, Export & Import, Neighborhood relations, Foreign Policy, Civilwar, Reccision, Economic and banking loses.
As same, Russian Authority and Central banks are facing high amount of inflation rate in Russian peoples ‘Rubble‘ holdings, financial, Domestic expensives, Finance & Investments. Early day, The Russian Government said, they working on the blockchain based ‘Digital Currency‘ to merge all our physical rubles to Digital Stable coins or tokens amid the US and Western ban on the Russian continue moves in Ukraine War.
The Russian Central Bank are already ingnored about ‘Crypto‘ or ‘Bitcoin‘ based trades, Investment and Financial assets in country but recently Russian President Vladimir Putin focusing on a Digital Currency and also supporting the Bitcoin and Decetralized Blockchain technology to empower the Ruble and Global influence ignore US Dollar and other International Payments like SWIFT and USD in their country to focus on Ruble of Russia.
Russian authority are looking for a best payment gateway after SWIFT ban on their ‘International Facilities‘ and beating US Dollar to include National Digital Ruble to get more international Payments from Each other country at their Export of Oil and also Russia is the world’s largest grains and fertilisers exporter, top palladium and nickel producer, third-largest exporter of coal and steel, and fifth-largest wood exporter.
SWIFT ban are breaking the Russia’s Export/Import from mostly USD, EURO where the total Export and Import Businesses of Russia are using 85% than Yen, Chinese Peso and Russian Rubles.
Russia has a large amount of Country Size which belongs to Asia and Europe and also aggression of Russia In Ukraine may impact on the two Specific continents.
Russian financial authority not yet told about Accept of Bitcoin, Ethereum and any other Digital Currencies but they want to make own Digital Currency to beat the USD and Euro markets. China recently made their own ‘Digital Yuan‘ to beat USD and EURO in the future of next international payment curremcy when Bitcoin will be a legal for that every International transactions than SWIFT and any Digital Centralized Gateways.s
Everyone can imagine, Bitcoin might next ‘International Currency‘ to ignore the Slaves of any Physical International currencies like USD and EURO.
Bitcoin’s regulations Bill in Russia and EU are in pending about their Framework and Regulations. In the Future, Russia may Accept Bitcoin as a Digital Assets to end the recent Inflation Rate of Russia and recent loss of war between Russia and Ukraine.
Written by RKM