Russia is developing a settlement mechanism for crypto payments in international trade

Russian financial officials have started developing a mechanism to make it easier to use cryptocurrency for international settlements in the face of sanctions. A draft law that will regulate cross-border crypto transfers has already been approved by the countrys central bank and finance ministry. Russian regulators have been hard at work to legalize the use of crypto in foreign trade. Authorities plan to regulate the issuance, circulation, and other operations of digital currencies, such as their use in international payments, by 2022. This task will be jointly undertaken by the Ministry...


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