🎉【Russia's new regulations on cross-border cryptocurrency payments are coming soon! 】🎉

Anatoly Aksakov, chairman of the Russian State Duma Financial Markets Committee, recently revealed that the Russian Central Bank and the Ministry of Finance are working intensively to formulate regulations for cross-border cryptocurrency payments, with the goal of completing them by the end of November. This initiative will first be tested under the experimental legal system (EPR), and only selected participants such as credit institutions and banks can participate, aiming to minimize risks and protect the market from fraud.

Aksakov emphasized that companies are currently using cryptocurrencies for import and export payments, with transaction volumes estimated at billions of dollars. In order to better understand the market and develop effective regulatory provisions, the number of financial institutions involved in these transactions will be limited in the initial stage. This move will pave the way for future cryptocurrency payments, and it is worth looking forward to! 🚀