Crypto Payments for Foreign Trade: Russian Bill Passes First Reading

IconCryptoNewsTerminal Staff24 Jul, 2024

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Crypto Payments for Foreign Trade: Russian Bill Passes First Reading

The Russian Duma, the lower house of parliament, has taken a significant step towards legalizing the use of cryptocurrencies in international trade settlements. The bill, which passed in the first reading, aims to facilitate the cross-border exchange of goods and services using digital assets. This move is seen as a major development within the cryptocurrency industry, as it could potentially open up new avenues for international trade and investment. The bill, if passed into law, would allow Russian businesses to use cryptocurrencies to settle payments for imports and exports with foreign counterparties.

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