CandleFocus Ukraine promises sanctions over Russia’s use of Bitcoin in foreign trade: report
2024-12-26
Author: Content Editor
Ukraine plans to impose sanctions on Russia and develop measures to block Russia's use of Bitcoin and other cryptocurrencies in foreign trade. Ukraine's government has alerted its international partners to Russia's intentions to use crypto to evade Western sanctions, and they are already working on different solutions to prevent unwanted cryptocurrency payments. This announcement comes a day after Russia's finance minister confirmed that Russian companies are using crypto to get around sanctions. Russian companies have been using stablecoins like Tether (USDT) to conduct cross-border transactions with Chinese clients. This move from Ukraine is in response to Russia's efforts to bypass sanctions that have affected its ability to make and receive international payments.
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