Vladimir Putin
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The move comes as Ukraine’s Vice Prime Minister Mykhailo Fedorov urged cryptocurrency exchanges to block addresses belonging to Russian users
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Using cryptocurrencies instead of US dollars would be a violation of sanction agreements
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The cryptocurrency fell almost 9% over a 24-hour period, with many leading digital assets trading at their lowest levels since Jan. 24
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Russia’s finance ministry opposes giving bitcoin legal tender status as the country moves forward with crypto regulatory plans
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The country’s finance minister reportedly hopes bill detailing crypto regulation will pass by end of year
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Russia is expected to draw up crypto legislation, including tax standards, by Feb. 18
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