Russia knows very well how to best regulate the Bitcoin and cryptocurrency markets. Swamped with Western sanctions, the world’s largest country, Russia has sought alternatives to the U.S. dollar to guarantee the efficient trade of its commodities. According to recent reports, the chairman of the country’s Congressional energy committee, Pavel Zavalny, stated that the country was open to taking payments for natural gas and other natural resources exports in bitcoin. He further stated that: Four months back, it was reported that Russia was “actively discussing” the use of cryptocurrency in international trade. However, the imminent actualization of such a move shifted the tide as President Vladimir Putin last year in Moscow had dismissed the possibility in an interview at the Russian Energy Week event. Putin stated at the time, referring to bitcoin that: According to the sources, the necessary regulatory framework still needs to be introduced in order to enable cross-border settlements in cryptocurrency in Russia. So, let’s see what comes next. Also Check: Elon Musk’s Tesla sells 75% of its Bitcoin Holdings by Q2 end