Bitcoin rose above $65,000 on Monday as investors reacted to developments in Russia's cryptocurrency legislation, which is nearing final approval and would establish a legal framework for using digital assets in international trade transactions.
The move marks another step in Russia's efforts to adapt its financial system following years of sanctions imposed by the United States and its allies. Since 2022, Moscow has increasingly explored alternative payment mechanisms as restrictions on Russian banks' access to the SWIFT international payments network have reshaped global trade flows.
