Russia is trying to effectively bypass Western sanctions by using Bitcoin for transactions within the BRICS countries

ChainCatcher news, according to Bloomberg Terminal information, as the BRICS summit opens in Kazan, Russia, cryptocurrency issues have been brought to the agenda. Russian lawmakers are promoting the idea that Russian miners can sell their tokens to international buyers, while domestic buyers can use BitCity and other cryptocurrency markets to pay for imported goods, effectively bypassing Western sanctions. Richard Wolf, an American economist and emeritus professor at the University of Massachusetts Amherst, commented on this situation, stating that the BRICS alliance is surpassing the already peaked United States. The U.S. is in decline and is trying to maintain its international dominance.