Russia 🇷🇺 Starts Creating Cross-Border Payments Using Cryptocurrencies!

According to a publication, Anatoly Aksakov, Chairman of the Financial Market Committee of the Russian State Duma, announced that the Russian Central Bank and the Ministry of Finance are working on regulations to establish rules for cross-border payments using cryptocurrencies. The government aims to complete these regulations by the end of November.

Initially, the Russian government will test the cryptocurrency payment mechanism under an experimental legal regime (EPR). This means that only selected participants, such as credit institutions and banks, will be allowed to participate in the process. The goal is to reduce risks and help formulate regulations to protect the market from fraud. Aksakov revealed that companies are already using cryptocurrencies for import and export payments, with the transaction volume estimated at billions of dollars 🪙 $BTC $BNB $XRP #AirdropGuide #RussiaCrypto #coinmarket #xrp