Russia and Iran to Develop Own Cryptos to Reduce USD Dependence

Virtual currencies have reached an important number of citizens all over the world. They were able to help people to be more independent and have more freedom; with virtual currencies they were able to be the real owners of their funds. But some countries, including Russia, Iran and Venezuela, have been developing virtual currencies so as to avoid US sanctions, and more important, to reduce USD dependence.

Russian CryptoRuble, Venezuelan Petro, and Iranian…

Russia has been one of the first countries to propose the creation of its national virtual currency, the CryptoRuble. It was expected to work as a virtual currency to process transactions, speed up international payments, reduce costs and…yes, avoid United States possible sanctions.

The same happens with the Venezuelan Petro, which has gathered important attention all over the world, and investors trying to place their funds in one of the first ICOs conducted for a national virtual currency.

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