Reported 3 months ago
Russia's money laundering watchdog emphasized the importance of accelerating the development of cryptocurrency payment infrastructure while carefully assessing the associated risks. The watchdog highlighted the need for this infrastructure in international transactions, as Russian banks have faced delays with trading partners due to caution under pressure from Western regulators. The upcoming digital assets legislation, to be reviewed by parliament, aims to allow cryptocurrency transactions in international payments to facilitate trade flows. Concerns over exploiting cryptocurrencies to bypass sanctions were also raised, with plans for Russian and Iranian central banks to connect their digital currency systems for bilateral transactions. President Putin discussed the use of digital currencies, including the experimental digital rouble, and expressed concerns over the energy consumption of cryptocurrency mining farms in Siberia.
Source: YAHOO