The Russian government passed legislation allowing the use of digital currencies in cross-border transactions and exchange trading from September 1, 2024, and legalizing cryptocurrency mining in Russia from November.
JinseFinanceRussia, home to anti-crypto legislation, is about to begin a pilot program for cryptocurrency trading and digital token payments for cross-border transactions to help ease payment difficulties for Russian businesses hit by international sanctions.
JinseFinanceRussia is developing a crypto payments system to facilitate international trade amidst sanctions, with a focus on mitigating transaction risks and maintaining domestic crypto restrictions.
EdmundPutin's economic strategy for Russia weaves control, resilience, and strategic adaptability. As he guides Russia through challenging geopolitical terrains, his economic playbook evolves, reflecting the forthcoming challenges and opportunities. The upcoming presidential election, though lacking genuine competitiveness, remains a pivotal moment in Putin’s economic narrative, potentially shaping the next chapter in Russia’s economic journey under his leadership.
Huang BoThe government will instead focus on regulating the industry and supporting existing exchanges.
BeincryptoDeputy Chairman of the State Duma Alexander Babakov suggested that the three countries should trade using a common digital currency.
LedgerinsightsRussia is taking a step further by launching a national cryptocurrency trading platform to keep the asset class under official supervision.
CoinCultureThe country's prosecutor general office blacklisted the world's third-largest crypto exchange by volume, according to the public data.
OthersThe country's central bank, Bank of Russia, has reportedly admitted that cross-border payments in crypto are inevitable in the present geopolitical conditions.
OthersCryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system, the Bank of Russia governor said.
Cointelegraph