“Wooden” cryptocurrency: Russia is developing a virtual money to avoid sanctions – media

Russian officials are developing a cryptocurrency which aims to help the country avoid international financial sanctions.

It is reported The Hill, citing the Financial Times.

See also:

Bitcoin, the blockchain and mining. Who needs cryptocurrency and how state control

It is noted that Russian President Vladimir Putin instructed government agencies to work on the “CryptoRandom”.

Thus, the cryptocurrency will be another way to conduct financial transactions in roubles and avoid sanctions, which limit funding opportunities in the country.

We will remind, earlier the European Union decided to extend until 31 July 2018 economic sanctions against Russia for its aggression against Ukraine. So, through sanctions from Russia “ran” for 10 billion dollars more capital than expected.

  • Russia
  • Putin
  • USA
  • sanctions
  • cryptocurrency

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