Russia to Launch Crypto Payment Trials in Response to US Sanctions Pressure

The Russian government will soon start trials on cryptocurrency exchanges and digital token usage for cross-border transactions. According to a Bloomberg report, they are scheduled to begin on September 1 and are aimed at alleviating payment difficulties for local companies dealing with international sanctions. The tests will focus on swapping between rubles and cryptocurrencies, offering a potential lifeline to companies struggling with cross-border payments. Since the imposition of a tighter embargo by the United States in June, which expanded the criteria for sanctioning foreign banks dealing with Russia.

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