Russia and Cuba May Use Cryptocurrencies to Avoid Sanctions

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Boris Titov, authorized under the President of Russia for the protection of the rights of entrepreneurs, Russia and Cuba have been under Western economic sanctions for a long time. To carry out mutual settlements bypassing such restrictions, countries can use digital currencies.

According to him, businesses should use this innovative tool, since it is not controlled by the US and European states.

Boris Titov proposed earlier this year allowing Russian citizens and businesses to store Bitcoin and other virtual currencies. At the same time, he was against the use of such instruments in mutual settlements.

Now, he is calling for the use of cryptocurrencies to circumvent the sanctions regime.