Russia to Use Bitcoin for International Transactions, Legalizes Mining on November 1st

Russia is set to begin using Bitcoin and cryptocurrency for international transactions starting November 1st. Additionally, Bitcoin mining will become legal in Russia on the same date.

Russia's sovereign wealth fund is investing in Bitcoin mining infrastructure throughout BRICS nations, aiming to settle global trade in Bitcoin. Three new BRICS nations—Argentina, UAE, and Ethiopia—are also mining Bitcoin with government resources, according to VanEck's Head of Digital Assets.

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