Ukraine is taking steps to block Russian companies’ use of Bitcoin in international trade. Advisor to the President of Ukraine, Vladyslav Vlasiuk, has announced “sanctions and other solutions” to counter Russia’s move. The decision comes after changes in Russian legislation allowed for cryptocurrency payments, which have disrupted Western sanctions on Russia.
Sanctions imposed by the West have hurt Russia’s trade with key partners like China and Türkiye, forcing local banks to avoid transactions linked to Russia. In response, Russia has legalized cryptocurrency mining, including Bitcoin, and implemented taxation laws.
Vlasiuk stated that Ukraine was aware of Russia’s plans as early as the summer. “We were not surprised,” he said. “Appropriate sanctions are being prepared.”
Source: https://www.pravda.com.ua/eng/news/2024/12/26/7490790