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A Russian finance official has stated that legislation now being drafted could allow businesses considerable discretion in cryptocurrency.
Amid the sanction on Russia's SWIFT international payment network and sanctions from the West, Russia might start using crypto payments for its imports, according to the Russian Prime Minister.
Iran and Russia have touted the use of cryptocurrencies to skirt punitive sanctions. But while Tehran recently raised eyebrows when it announced it used cryptocurrency to pay for some imports, sanctions experts say virtual currencies are not a digital safe place for illicit transactions.
A top executive at the Russian central bank acknowledged the possibility of discussing crypto mining legalization in the country.
Russian government considers bitcoin as an option for small business payments, not oil exports, the finance ministry has indicated.