U.S. prosecutors have charged cryptocurrency entrepreneur Iurii Gugnin with laundering over $500 million and helping sanctioned Russian entities bypass export controls.
Sources suggest that Russia will likely continue using digital currencies in energy trade even if Western sanctions are lifted.
Russian companies are increasingly using Bitcoin and other digital currencies for international payments in response to Western sanctions, Reuters reported on Dec. 25.
Russia on July 30 passed a law that will allow businesses to use cryptocurrencies in international trade, as the Kremlin seeks ways to circumvent Western sanctions, Reuters reported on July 30. The new law will go into force in September.
CCTV footage released by the police appears to show the moment the man was kidnapped.
Russian smugglers are using the cryptocurrency tether to circumvent Western sanctions and purchase weapons and drone parts, the Wall Street Journal (WSJ) reported on April 1.
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