🚀 **Breaking News: Russia Embraces Crypto!** 🌍

Russia is set to legalize cryptocurrency payments, aiming to ease foreign payment woes due to U.S. sanctions over the Ukraine conflict. Lawmakers in the State Duma are fast-tracking a bill to regulate crypto like foreign currencies, with an effective date of September 1.

Anatoly Aksakov, head of the Duma’s financial market committee, highlighted that this move is crucial for businesses to operate legally and boldly. While large exporters stand to benefit, small and medium-sized enterprises might be left out.

The Bank of Russia will be the primary regulator, with additional oversight from multiple federal agencies. This marks a significant shift in Russia's stance on digital currencies, driven by the need for alternative international payment methods. 🌐💸