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Ukraine acts to thwart Russia’s crypto transactions amid global tensions

Ukraine plans to impose sanctions to block Russia’s unauthorized use of cryptocurrencies, particularly Bitcoin. The move comes as Russia turns to digital currencies for international trade after Western sanctions hindered their transactions with prominent nations like China and Turkey.

In response to Western restrictions, Russia has legalized cryptocurrency mining and related transactions. Recent laws support mining activities and tax profits from digital currency trades, showcasing Russia’s strategy to leverage cryptocurrencies for economic growth amid ongoing sanctions from Western powers.

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