Russia Looks Into Cross-Border Crypto Payments | Crypto

Russia Looks Into Cross-Border Crypto Payments

The Russian government is working on a way to use cryptocurrencies for settlements with other nations amid The sanctions related to The Russia-Ukraine war.
– The countrys central bank and finance ministry have agreed on a draft law to regulate cross-border crypto payments.
– The authorities will regulate The issuance, circulation and various operations with Digital assets by The end of The year, including International crypto payments.
– Deputy Minister of finance Alexey Moiseev said his Department and The bank of Russia had agreed on New legislation.
– Earlier this month, The two institutions said Russia cant do without cross-border crypto payments because of The sanctions multiple countries have leveled at it due to starting The war in Ukraine last February.
– Since it started The war, Russia has been having to find ways to operate in The face of global sanctions and condemnation.
– One of those ways is stablecoins, which can currently be used to make cross-border payments, According to government news Agency Tass.
– Moiseev said theyre essentially clearing platforms that we are currently developing with these countries.

russia crypto cross border Russia Looks Into Cross-Border Crypto Payments

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