The Russian government has been a historic opponent of bitcoin, banning its use for domestic payments, but has recently come to see the potential benefits of virtual currencies for evading U.S. and Western sanctions.

Russia has begun using Bitcoin and other digital currencies for international trade. This move follows legislative changes aimed at countering Western sanctions. The shift aligns with US President Joe

"As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia [in foreign trade transactions]," Finance Minister Anton Siluanov told the Russia-24 TV channel. "Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year."