The government's concerns about the crypto mining sector's high energy demands have prompted a temporary ban in key regions.

Some businesses have begun using crypto, including bitcoin, to make international payments, Russia's finance minister said.

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

From blockchain advancements to digital currencies, financial tools that once seemed niche are now stepping onto the main stage of international trade. For Russia, this shift has taken on new urgency.

Russian companies have started using Bitcoin and other digital currencies for international payments. This shift follows legislative changes allowing such transactions to counter Western sanctions, reports Reuters,