Under an avalanche of Western sanctions, Russia is turning to an unexpected ally: Bitcoin. This flagship crypto, which Moscow intends to exploit, is establishing itself as an escape route to circumvent the dollar and financial restrictions. With ideal conditions for bitcoin mining, the country aims to become a major player in the sector. But this strategic shift raises crucial questions about its economic and legal implications.
Bitcoin, a strategic weapon for Russia
Since September 2024, Russia, which is approaching an economic disaster, has been experimenting with a legal regime allowinguse of digital financial assets (DFA) in international trade. According to Anton Siluanov, Minister of Finance, these modern tools, including bitcoin, could effectively replace the dollar in transactions.
“ We can pay for the delivery of goods with digital financial assets. This is also possible with bitcoin, which we mine here “, he declared on Russia-24 channel.
Concretely, this approach offers several advantages :
- Reduction of dependence on the US dollar;
- Ease of trade with countries under similar sanctions;
- Exploitation of Russia's vast energy resources for mining.
The country is not content with mining: it intends to develop a robust infrastructure to expand these practices from 2025. But be careful, everything is not rosy despite a booming crypto market: Siluanov warns citizens againsts risks of crypto speculationreminding us that bitcoin is not a fast track to wealth.
Crypto trading, between opportunities and caution
If Russia legalizes bitcoin mining, it remains wary of crypto trading. Last November, Siluanov recommended not investing in bitcoin, when it was flirting with historic highs above $76,000. His warning:
“ Some see cryptos as a source of quick profits. This is not an investment solution. »
The challenge for Moscow is clear: capitalize on BTC as an economic lever without fueling a speculative frenzy. The 2021 law confers legal status on DFAs, but prohibits their use as a means of payment inside the country.
This paradox reflects prudent management, aiming to regulate a technology which could both energize and destabilize the economy.
In addition, Russia, rich in energy resources and ambitions, sees bitcoin as an economic and political weapon. By inviting the BRICS to take advantage of these ideal conditions, it aims to build a new multipolar economy, where BTC mining and cryptos redefine the rules of the game.
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