Russia Starts Developing Mechanism for International Crypto Payments – Finance Bitcoin News

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Regulators in Russia begin developing mechanism for cross-border crypto payments.

Financial authorities in Russia have begun work on a mechanism to facilitate the employment of cryptocurrencies for settlements with other nations amid sanctions. The country’s central bank and finance ministry have already agreed on a draft law regulating cross-border crypto payments.Russian authorities intend to regulate the issuance, circulation, and various operations with digital assets, including international crypto payments, by the end of 2022.

The current version of the bill “On Digital Currency,” put forward by the finance ministry earlier this year and revised with input from other authorities, provides for the establishment of domestic infrastructure for crypto asset trading.

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How will it impact the regulation in the US if Russia uses crypto to circumvent sanctions?

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According western propaganda most corrupted and totalitarian country, obviously not doing like western claims.

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Bad news

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Russia my really push crypto adoption further

Seems like they have no choice but start buying crypto on finex.

You mean a mechanism for avoiding sanctions.

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