Bank

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/russia-proposes-strategic-bitcoin-reserve-to-enhance-financial-independence/" data-wpel-link="internal">Russia Proposes Strategic Bitcoin Reserve to Enhance Financial Independence</a> 
Russian state news agency RIA Novosti reported that State Duma Deputy Anton Tkachev has proposed the establishment of a strategic Bitcoin reserve for Russia. Tkachev presented this suggestion to Russia’s Minister of Finance, Anton Siluanov. 
<h2 id="details-of-the-proposal">Details of the Proposal</h2> 
Tkachev, a member of the New People party, submitted his proposal in an official document to the Ministry of Finance. The document calls for the creation of a Bitcoin reserve similar to Russia’s traditional monetary reserves. 
It emphasizes that <a href="https://en.coin-turk.com/billionaire-chamath-palihapitiyas-forewarning-economic-ripples-and-cryptocurrency-impact-in-january-2024/" data-wpel-link="internal">cryptocurrencies</a> have become almost the sole instrument under conditions of limited access to international payment systems. The document also states that the Central Bank of Russia is preparing for cross-border payment trials using cryptocurrencies. Similarly, Iran has enabled the use of mined BTC for certain companies in trade. Both Russia and Iran share the commonality of being under U.S. sanctions. 
<h2 id="putin-s-statements">Putin’s Statements</h2> 
Five days ago, Russian President Vladimir Putin announced that the use of Bitcoin cannot be banned and that this sector will continue to develop. Additionally, earlier this year, Putin signed a new law legalizing Bitcoin and <a href="https://en.coin-turk.com/marathon-digital-continues-bitcoin-sales-amid-record-production/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/crypto-prices-decline-as-bitcoin-and-major-altcoins-struggle/" data-wpel-link="internal">cryptocurrency</a> mining in the country. 
<blockquote> 
 Russian President Vladimir Putin: “No one can ban Bitcoin. It will continue to develop.” 
</blockquote> 
Tkachev’s document highlights the need for an independent alternative, noting that traditional monetary reserves are vulnerable to inflation and sanctions. Establishing a Bitcoin reserve could enhance Russia’s financial stability. 
This development reflects a trend among countries such as the United States, El Salvador, Brazil, and Poland to create strategic Bitcoin reserves. Under the new administration of President Donald Trump, the U.S. plans to establish a strategic reserve of 1 million BTC. 
In this context, it appears that Russian officials are influenced by the U.S. initiative. Globally, cryptocurrencies are expected to play an increasingly important role in financial strategies. 
Russia’s initiative to establish a strategic Bitcoin reserve is seen as part of its efforts to strengthen financial independence and seek alternative solutions against international sanctions. This move indicates the growing significance of cryptocurrencies in global economic dynamics. 
The post <a href="https://en.coin-turk.com/russia-proposes-strategic-bitcoin-reserve-to-enhance-financial-independence/" data-wpel-link="internal">Russia Proposes Strategic Bitcoin Reserve to Enhance Financial Independence</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Russia Proposes Strategic Bitcoin Reserve to Enhance Financial Independence

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