Russia has once again made headlines in the digital assets space, as a recent report showed that the nation is gearing up to start crypto exchange and payment trials. The report, citing people with knowledge of the matter, said that the country will kickstart the trials as soon as next week. It would aid the nation in using digital tokens for cross-border transactions amid international sanctions.
Russia To Start Crypto Exchanges And Payment Trials
A recent Bloomberg report suggested that Russia is considering initiating the trial launch for crypto exchanges and the use of digital assets in cross-border transactions. These trials are expected to start on September 1, 2024.
The Russian government plans to utilize the National Payment Card System to facilitate the exchange between rubles and crypto during the trials, the report showed. Notably, this move follows the passing of legislation in the prior month, which legalized crypto mining in the nation. In addition, it also established a
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