“Russia approves law allowing use of crypto for global payments as it faces ongoing sanctions”
July 31, 2024
“The lower house of Russia’s parliament on Tuesday approved a law that permits making international payments via cryptocurrencies, local media reported.
Russia’s central bank is itself looking to move money across borders using crypto before the end of 2024, Governor Elvira Nabiullina said.
The U.S. and its allies have imposed innumerable sanctions on Russian individuals and entities in retaliation to its assault on Ukraine…”
This is good news for both Crypto and Russia. If the Bricks currency falls through Russia can still use this for international trade as a backup. The U.S. on the other hand is probably not so happy about this. Sanctions will now be less effective.