Payment, law, policy, supervision, It is difficult for tens of thousands of enterprises to open bank accounts. How to make payments for Sino-Russian trade? Golden Finance, explores virtual currency as a transit solution for cross-border payments.
JinseFinanceWhile this move to embrace cryptocurrency represents a notable shift in policy, it also underscores the lengths to which Russia must go to navigate around international sanctions. The long-term viability and effectiveness of this strategy remain uncertain, particularly given the existing complexities and risks associated with digital currencies.
SanyaRussia's new bill legalises crypto mining and allows international trade payments with cryptocurrency while maintaining tight controls on domestic use and reporting.
EdmundRussian commodity companies that have experienced difficulties in conducting financial transactions with Chinese partners have begun using cryptocurrencies for payments.
JinseFinanceChina and Russia have almost entirely abandoned the US dollar in all bilateral trade, paving a profitable path for the yuan.
WeiliangEgypt and India are exploring a strategic shift in trade relations by considering the abandonment of the US dollar, aligning with the broader de-dollarisation efforts within the BRICS bloc, potentially reshaping the global economic order..
JasperBank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor.
OthersIt will look at the use and oversight of crypto in 401(k) and similar plans, which is controversial in many parts of the government.
CointelegraphCryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system, the Bank of Russia governor said.
Cointelegraph“The question is when this will happen, how it will happen and how it will be regulated. Now both the Central Bank and the government are actively engaged in this,” said trade minister Denis Manturov.
Cointelegraph