Russia to Start Using Cryptocurrencies for International Transactions Starting September 1

Starting September 1, Russia will begin using cryptocurrencies for conducting international transactions, marking an important step in the development of the country's digital economy. All transactions with digital currencies will be carried out strictly through state platforms, ensuring maximum control and data security in these operations.

In the initial phase of the experiment, access to trading will be limited to state structures, but as the program develops, the possibility of participation may be extended to "specially qualified investors." This innovation could fundamentally change the approach to international settlements and strengthen Russia's position in global markets, helping to reduce dependence on traditional financial instruments.

The decision to introduce cryptocurrencies into international transactions is also seen as a response to the tightening of economic sanctions and restrictions on international financial operations. The country's authorities believe that the use of digital currencies will provide greater flexibility and independence in conducting foreign economic activities.

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