Russian lawmakers have just approved a groundbreaking law that allows businesses to use Bitcoin and other cryptocurrencies for international trade, aiming to sidestep Western sanctions imposed after the Ukraine invasion. Set to take effect in September, this move is designed to solve payment delays with major trade partners like China, India, and the UAE. The central bank will test out this new system before the end of the year, although crypto payments within Russia remain banned. This shift could reshape global trade dynamics and help Russia navigate its economic challenges.
In a pivotal legislative development, Russian legislators have approved a bill allowing businesses to engage in international transactions using Bitcoin and other cryptocurrencies, as reported by Reuters. This move is part of Russia's strategy to bypass Western sanctions imposed after its military operation in Ukraine. The law, which is anticipated to come into effect in September, aims to resolve delays ...