Putin's government recently announced a major decision: from September 1, 2024, Russia will allow cross-border transactions using Bitcoin, marking a major shift in Russia's cryptocurrency policy.

Previously, Russia had been cautious about cryptocurrencies, but in the face of international sanctions and economic pressure, the government began to reassess its position. Under the deliberation of the Russian State Duma, the new bill was passed as part of an experimental legal system aimed at exploring the feasibility and risk control of digital currencies in practical applications.

This policy adjustment is not limited to Bitcoin, but also includes Ethereum (ETH) and stablecoins such as USDT, showing Russia's wide acceptance of the cryptocurrency market. The new bill also clearly stipulates the procedures for entering and exiting cryptocurrency transactions, as well as the rights and obligations of participants to ensure market transparency and stability.

The Russian Central Bank has been given regulatory functions and will monitor cryptocurrency trading activities to avoid risks such as money laundering and terrorist financing. At the same time, the central bank also plans to establish an electronic platform for digital currency operations based on the national payment system to further promote the application of cryptocurrencies in Russia.

This decision is of great significance to the Russian economy. Against the backdrop of Western sanctions, cryptocurrency has become an important means for Russia to circumvent sanctions and promote international trade. Russia has become an important cryptocurrency mining country in the world, and the new policy is expected to bring considerable tax revenue to the country and promote the development of related industries. $WIF $AI $GFT #加密市场反弹