Donald Trump · Bitcoin · Russia · Vladimir Putin · Bitcoin Magazine
U.S. President Donald Trump even signed an executive order in 2025 prohibiting federal agencies from establishing, issuing
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But in Russia, a digital ruble is the best way for keeping citizens in check.
Key facts
- Though the Kremlin still has a tight grip on what its citizens can do with it: Retail investors are limited to trading bitcoin and other liquid cryptocurrencies, capped at 300,000 rubles ($3,556) per
- President Putin in 2024 seemed to praise the OG cryptocurrency
- Bitcoin payments, on the other hand, are being used by companies in international payments to counter Western sanctions, Finance Minister Anton Siluanov admitted in 2024
- The digital ruble has been available for transactions in the country since September 1, according to a Tuesday report from Tass
Summary
Russia's digital ruble is part of developing a "fast and independent" payment infrastructure, according to the country's prime minister. While bitcoin is banned for making payments in Russia, the government is keen on one type of digital money: its own central bank digital currency. The digital ruble has been available for transactions in the country since September 1, according to a Tuesday report from Tass. Citing a talk given by Prime Minister Mikhail Mishustin, the news agency said that it was all part of “developing a convenient, fast, and independent payment infrastructure” in Russia. The law states that only registered entities can operate as exchanges, and puts limits on the amount of crypto retail investors can use.