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Bitcoin, Russia, and Financial SanctionsThe goal of the restrictions on crypto is to stop sanctioned Russians from finding loopholes to move money out of Russia to the West. But it. While crypto isn't outlawed in Russia, there was until recently a conflict being waged against its use. Now, it is being seen as some as a. The Bank of Russia has proposed banning cryptocurrency trading and mining due to the threat digital currencies pose to financial stability. 21 Feb,