Russia Moves to Legalize Crypto Use for International Payments—Here’s Why

Quick Summary:

According to the latest reports, Russia is now accelerating its regulatory efforts on crypto usage—a move that comes amidst increasing international sanctions, which are impacting business operations and financial transactions.

While cryptocurrencies may help Russia to bypass Western sanctions, their use is “an objective phenomenon and cannot be ignored.

The Russian Central Bank had recently proposed a total ban on cryptocurrencies, citing risks to financial stability.

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets: HungaryUkraine

Topics: Crypto Market Crypto Digital lCurrency Crypto News Russia and Crypto Russia

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 04:30:35 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 426 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21867264

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 18 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 13 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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