Russia tests international settlements in cryptocurrency through payment agents
Russia has begun testing international settlements in cryptocurrency. The project involves importers who are facing payment difficulties in China and other countries, as well as large banks. Transactions are carried out through payment agents in third countries, since cryptocurrency has no legal status in the Russian Federation.
Russia has begun testing international settlements in cryptocurrency to help importers who are experiencing difficulties with traditional payments in countries such as China. The test focus group included major Russian banks and companies that will conduct transactions through payment agents in third countries, since cryptocurrencies still do not have a full legal status in Russia. According to Vedomosti, this could be the first step towards creating a Russian crypto infrastructure. In August, the Russian Ministry of Finance announced the possibility of creating national crypto exchanges, which would strengthen the country's position in international trade and reduce dependence on traditional financial instruments.
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