Russia is making a significant move in the crypto space by legalizing stablecoins for cross-border payments. Amid challenges from Western sanctions, Russia is embracing stablecoins tied to stable assets like gold or the US dollar to reduce cryptocurrency volatility. Deputy Governor Alexey Guznov emphasized the need for permanent regulations to streamline transactions involving cryptocurrencies in Russia and cross-border contexts. The initiative aims to integrate stablecoins into the financial system, potentially facilitating transactions among BRICS countries. The volume of stablecoin usage surged to $6.8 trillion in early 2024, indicating substantial adoption primarily for payments to China.#SOFR_Spike #US_Job_Market_Slowdown #IntroToCopytrading

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