Reported 3 months ago
Russian lawmakers have passed a new law allowing businesses to engage in cryptocurrency transactions for international trade, aimed at circumventing Western sanctions. Set to take effect in September 2024, the law establishes a 'experimental' infrastructure for crypto payments, as Russia grapples with significant delays in international transactions, especially with major trading partners. The central bank anticipates the first cryptocurrency transactions to commence this year, highlighting the growing challenges posed by Western regulations on Russian trade.
Source: YAHOO