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A Putin Aide Is Eyeing Cryptocurrencies to Beat Sanctions, Report Says

  • Glazyev sees ‘objective need’ for instruments, report says
  • Russian officials fear possible expansion of sanctions in 2018
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Trump Signs Russia Sanctions Bill With Reservations

An adviser to President Vladimir Putin said cryptocurrencies may help Russian banks avoid international sanctions, the Rambler News Service reported Tuesday.

Sanctions against Russia have created an “objective need” for the digital currencies, Sergei Glazyev told a meeting of the presidential administration on the legal status of such instruments, according to Rambler. Glazyev also argued that the government could use cryptocurrencies to make and receive payments around the world for “sensitive” services, it said.